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Full text of "Statistical summary 1939"

Government 
Publication! 






Digitized by the Internet Archive 
in 2013 



http://archive.org/details/statisticalsumma1939bank 



A 



INDEX 



STATISTICAL SUMMARY 



BANK OF CANADA 






3 

1 




1939 






no 
in 



1,'DEX 1939 



M indicates every issue. 

Unless otherwise stated tables and charts refer to Canada only. 

Tables and charts indexed under the same heading do not necessarily relate to the same intervals or units of time. 



Tables 



Charts 



Floui 



Agriculture 

Animal Products: production: value ...... 

See also Bacon & Hams; Cattle, Meat & Fish; 
Furs, Skins & Raw Leather 
Dairy & Farm Animal Products: index of value .... 

value ...... 

See also Butter & Cheese 
Exports — see individual commodities or groups, or External Trade 
Field Crops: index of value . 

value .... 

Grains: acreage & yield: by provinces 

production: value: by provinces 
total 
See also Grains & Flour, Wheat, and Wheat 
Gross Value of Agricultural Production ...... 

Imports — see individual commodities or groups, or External Trade 

Income — see Farm Income 

Prices — see individual commodity or group headings or 

Wholesale Price Indexes and Wholesale Prices 
Production: gross value ........ 

net value ........ 

See also individual headings above and commodity or group headings 
See also individual commodities or groups and Farm Products 

Animal Products — See Agriculture; Bacon & Hams; Cattle, 

Meat & Fish; Furs, Skins & Raw Leather 

Asbestos 

Production: value & volume ....... 



15, 78 



15, 78 



15, 78 
96 
96 
15,96 

15, 78 



Automobiles & Trucks 
Exports: volume 
Imports: volume 
Production: volume 



13, 66, 117, 168 



13, 65 
13, 65 
13,65 



B 

Bacon & Hams 

Exports: volume ...... 

Balance of International Payments 

Estimates .......... 

See also External Trade: Merchandise Trade Balance; 
Interest & Dividends; International Purchases & 
Sales of Securities; and Tourist Trade 



Bank Debits 

Bank Loans — See Chartered Banks and Federal Reserve System 



13, 66, 117, 168 



33, 34, 127, 128 



33, 34, 127, 128 



22, 71, 122, 158 



Bank of Canada 

Assets & Liabilities 

Deposts .... 

Investments 

Note Circulation: active 

active & total 
See also Note Circulation 
Reserve .... 



Banks 

Canada — See Bank of Canada, Chartered Banks and 

Savings Institutions 
U.K. — See London Clearing Banks 
U.S.A. — See Federal Reserve System 

Base Metals — See Non-Ferrous Metals 



M 


. M 


M 


. M 


M 


. M 


M 


. M, 155 


M 


. M, 105, 155 



INDEX 1939 



M indicates every issue. 

Unless otherwise stated tables and charts refer to Canada only. 

Tables and charts indexed under the same heading do not necessarily relate to the same intervals or units of time. 



Bleached Sulphite Pi lp 

Wholesale Price ..... 

Bond Issues (New, Refunding & Retirements) 

New Issues: Canada: sales & deliveries: abroad 
total 
U.K. 
U.S.A. 
Refunding Issues: sales & deliveries 
Retirements: refunded & other 

securities held abroad 
Summary of Changes in Currency of Payment: net cash involved 

par values 
See also Government Bonds and Balance of International 
Payments 

Brokers' Loans 

See also Chartered Banks: Loans, call 



lUILDING i 



Iuilding Materials — See Construction 



Butter & Cheese 
Exports: value 
See also Cheese 



Tables 

28, 81, 132 



169 

23, 76, 110. 161 



23, 76, 110, 161 

23, 76, 110, 161 
169 

24 

24, 76, 110, 162 



46, 93, 144 



49, 100, 151 



Charts 

81 



102 

17, 119 



c 

Call Loans — See Chartered Banks: Loans 

Canadian National Railways 

Bonds: prices & yields 58, 92, 143 

See also Government Bonds 

Bonds Outstanding: total, gtd. and ungtd., by currency of payment . 8, 111 

total, not gtd. by Dominion ..... 60 

Deficit 59 

Loans from Dominion .......... 59 

New Issues — See Bond Issues 

Refunding Issues — See Bond Issues 

Retirements — See Bond Issues 

Sinking Funds . . . . . . . . . 8, 111 

Capital Issues — See Bond Issues 

Carloadings ............ M 

Cash 

Canada: chartered banks ......... M . 

sources & distribution ........ M . 

U.K.: London clearing banks .......... 

Cash Ratio (Chartered Banks) M . 

Cattle, Meat & Fish 

Exports: value 49,100,151 

See also Bacon & Hams and Fisheries 

Central Electric Stations — See Electric Power 

Chartered Banks 

Assets & Liabilities M . 

Assets: distribution .......... M . 

Assets Outside Canada ......... 136 

Cash M . 

Cash Ratio M . 

Cash Reserves ........... M . 



M, 19, 36, 53, 55, 89, 90, 

123, 155 

M 

102 

104, 156 



M 
53, 55 

M, 19, 36, 53, 55, 89, 90, 
123, 155 
104, 156 

M 



JDEX 1939 



M indicates every issue. 

Unless otherwise stated tables and charts refer to Canada only. 

Tables and charts indexed under the same heading do not necessarily relate to the same intervals or units of time. 



Chartered Banks — continued 
Debits: total 

Deposits: annual classification 
Canadian: demand 
time 
total 



with Bank of Canada 
foreign public 
Investments 
Liabilities: distribution 
Loans: annual classification . 
Loans: call: Canada 
foreign 
total 
current: Canada: to public 

total . 
total 

Note Circulation — see also Note Circulation 
Ratio of Public Demand to Time Deposits 
Security Holdings — see Investments (above) 

Cheese 

Exports: volume ...... 

See also Butter & Cheese 

Chemical Products 

Imports: value ...... 

Clothing 

Retail Price Index . . . . . 

Coal 

Imports: volume . 

Production: value 
Wholesale Price . 

Coal & Coke Products 
Imports: value 



volume, by provinces 



Coffee 

Imports: volume ...... 

Commodity Prices — See Wholesale Price Indexes and 

Wholesale Prices 
Construction 

Contracts Awarded: value: by area 

private: by type . 
residential 
total .... 
Copper 

Exports: volume ...... 

Price 

Production: value: by provinces .... 
volume: by provinces 

total 

Corporate Financinc- — See Bond Issues 

Cost of Living Indexes 

Component Indexes ...... 

Total 



Cotton (Raw) 

Imports: volume 
Wholesale Price 



Current Loans — See Chartered Banks: Loans 



Tables 



13, 66, 117, 168 

48, 99, 150 
98 

12, 65, 116, 167 

68 

28, 81, 132 

48, 99, 150 



12, 65, 116, 167 



11, 95, 149 
11,95,149 . 
11,95,149 . 
M, 11, 95, 149 

13, 66, 117, 168 

28, 81, 132 . 

68 

68 

9, 45, 68, 78, 112, 148 



12,65, 116, 167 
28,81, 132 



Charts 

22, 71, 122, 158 

4, 54, 56 
4, 54, 56 

4, 21, 37, 54, 56, 88, 90, 
123, 139 

M, 155 

54, 56 

39, 53, 55, 73, 74, 107, 141 

54,56 

124 
124 
53,55 

5, 38, 72, 106, 140, 157 

53,55 
53,55 
54,56 
70 



98 
50, 51, 



INDEX 1939 



M indicates every issue. 

Unless otherwise stated tables and charts refer to Canada only. 

Tables and charts indexed under the same heading do not necessarily relate to the same intervals or units of time. 



Tables 



Charts 



Dairy Products 

Production: value . . . . . . . 15, 78 

See also Butter & Cheese, and Cheese 

Debits — See Bank Debits 

Deposits — See Bank of Canada, Chartered Banks, Savings Institutions, 
Federal Reserve System, and London Clearing Banks 

Direct Investments Abroad 136 

Dividends — See Interest & Dividends 

Dominion Finance — See Public Finance 



E 

Electric Power 

Consumption: Ontario & Quebec 

total 
Exports: volume . 
Installed Capacity 
Production: volume 
Production & Distribution 



Employment 

Index: Canada: employed 

percentage changes 
total wage-earners 
unemployed 
U.K.: unemployed 
Numbers: employed: by industries 
percentage 
total . 
total wage-earners 
unemployed 
Ratio of Unemployed to Total Wage-Earners 

Exchange Rates — See Foreign Exchange 



Exports — See individual commodities or groups, or External Trade 

External Trade 

Balance of Merchandise Trade — see Merchandise (below) 

Capital Account Items 

Current Account Net Balance: by countries 

by items 
Exports: index of price 
index of value 
index of volume 
value: by commodities 
by countries 
percentage changes 
percentage distribution 
total: Canada 
U.K. . 
See also Gold 
volume: by commodities 

See also Electric Power and Gold 



by countries 



30, 79, 147 
30, 79, 147 



M 

30, 79, 147 

M, 10, 63, 115 

10, 63, 115 
10, 63, 115 

118 

10, 63, 115 
10, 63, 115 
10, 63, 115 
10, 63, 115 



30 



112, 163 



102 

118 

51 

10 

10 

10 



33, 34, 135, 136 








127, 128 






128 


127, 128 






127 

132, 168 
168 


13, 66, 117, 168 






168 


49, 100, 151 . 






14, 116 


32, 83, 134 . 






32, 134 

49 

83 


32,33,49,83,100 


134 


151 


32, 34, 100, 134, 151 
102 



13, 14, 66, 117, 168 



13, 14, 65, 66, 116, 117 



Imports: index of volume ..... 
value: by commodities .... 
by countries .... 
percentage changes 
percentage distribution, by countries 
total 



12, 65, 116, 167 

48, 99, 150 

31, 82, 133 . . 31, 134 

48 

82 

31,33,48,82,99,133,150 31,33, 100, 134, 150 



DEX 1939 



M indicates every issue. 

Unless otherwise stated tables and charts refer to Canada only. 

Tables and charts indexed under the same heading do not necessarily relate to the same intervals or units of time. 



External Trade — continued 

volume: by commodities .... 

See also Gold 
Invisible Items ........ 

Merchandise Trade Balance: Canada .... 

U.K 

Merchandise Trade in Balance of International Payments 
Purchases & Sales of Securities — see International Purchase 

& Sales of Securities 
Re-exports: value 
Retained Imports: value: Canada 

U.K. . 
Tourist Trade: receipts & expenditures 
Visible Trade Balance . 



Tables 


Charts 


12, 65, 116, 152, 167 


. 12, 13, 65, 167 


33,34 




31, 82, 127, 133 


. 99, 100, 133 




. 102 


33, 34, 127 . 


. 33, 34, 127 



31, 82, 133 
31, 82, 133 



33, 34, 
33,34 



102 

33, 34, 84, 127 



Farm Income 

U.S.A.: index 

Farm Products 

Wholesale Price Index: Canada 

U.S.A. 
See also individual commodities or groups 

Federal Reserve System 

Deposits ....... 

Investments ...... 

Loans ....... 

Reserves ....... 

Fibres — See Textiles & Fibres 

Fisheries 

Exports: volume ..... 

See also Cattle, Meat & Fish 

Flour 

Wholesale Price . 

See also Grains & Flour and Wheat & Flour 

Food Products 

Retail Price Index ..... 
Wholesale Price Index: Canada 

U.K. 

U.S.A. . 
See also individual commodities or groups 

Foreign Exchange 

Forward Rate: U.S. dollar in Canada 
Spot Rates: Canadian dollar in New York 

French franc in New York 

Sterling in Canada 

Sterling in New York 

U.S. dollar in Canada 

U.S. dollar in London 

Foreign Investment, 1926-37 

In Canada: by types ....... 

Abroad: by types ....... 

See also International Purchases & Sales of Securities 

Foreign Trade — See External Trade 

Forest Products 

Export Price Index ....... 



13, 66, 117, 168 



28, 81, 132 



47, 


111, 


147 


47, 


111 




47. 


111, 


147 


47, 


111, 


147 


47, 


111, 


147 


147 






135 


, 169 




136 







17, 119 
15,67 



17, 119 
17, 119 
17, 119 
17, 119 



97, 145, 165 
102 



Wholesale Prices 

See also Bleached Sulphite Pulp; Lumber; Lumber & Shingles; 

Newsprint; Newsprint & Wood Pulp; Paper, Wood 

Pulp & Pulpwood 



132 
81 



INDEX 1939 



M indicates every issue. 

Unless otherwise stated tables and charts refer to Canada only. 

Tables and charts indexed under the same heading do not necessarily relate to the same intervals or units of time. 



Tables 

Fruits & Vegetables 

Imports: value 48, 99, 150 

Production: value .......... 78 

Fuel 

Retail Price Index .... 98 

See also Coal and Coal & Coke Products 

Funded Debt — See Public Finance 

Furs, Skins & Raw Leather 

Exports: value .......... 



Charts 



49, 100, 151 



Gasoline 

Imports: volume ....... 

Wholesale Price 

See also Petroleum & Products 

Gold 

Monetary: exports & imports: net value 

volume .... 
Non-Monetary: domestic monetary purchase . 

earmarked in Canada: increase or decrease 

exports: indexes of value & volume 
value: net 



volume 

imports: value 

volume . 
price index .... 

Total: exports & imports: net value 
volume 
production: Canada: value: by provinces 
total 
volume: by provinces 
total 
other countries: volume 
Government Bonds 

Amount outstanding: by currency of payment & issuing body 

by year of final maturity 
Deliveries ......... 

Foreign Investment ..... 

New Issues: Canada: cumulative . 

sales & deliveries: abroad 
total 
Prices, Yields: domestic: Canada . 



12, 167 



U.K. 
U.S.A. 



optional payment issues . 

payable London: Can. & U.K. issues 

payable New York: Can. & U.S.A. issues 

Refunding Issues: sales & deliveries 

Retirements: refunded & other .... 
securities held abroad 

Sinking Funds ....... 

See also Public Finance: Dominion: Debt 



28,81, 132 




34 




43, 101, 152 




43, 83, 101, 134, 152 




32, 42, 43, 83, 




101, 134, 152 






44 


33, 34, 43, 49, 100, 


127, 128 


101, 128, 151, 152 




32, 33, 83, 134 


32,34 


13, 43, 66, 101, 




117, 152, 168 




32, 33, 83, 134 




43, 101, 152 






44 


42, 101, 152 




42, 101, 152 




68 




68 ... 


44 


68 




M, 68 . 


44 




44 


8, 111 






8 


23, 76, 110, 161 . 


162 


135 






74, 107 


169 




23, 76, 110, 161 




M . . . . 


6,7,25,26,40,41,57,58, 




75, 91, 92, 108, 109, 126, 




142, 143, 159, 160 


7, 25, 41, 57, 58, 75, 92, 


7, 25, 26, 41, 57, 58, 75, 


109, 126, 143, 160 


91, 102, 109, 126, 143, 160 


7, 25, 41, 57, 58, 75, 92, 


7, 17, 25, 26, 41, 57, 58, 


109, 126, 143, 160 


75, 92, 109, 119, 126, 143 




160 


58, 92, 143 




58, 92, 143 . 


91 


58, 92, 143 . 


92 


23, 76, 110, 161 




23,76,110,161 


162 


169 . 


162 


8, 111 





NDEX 1939 



M indicates every issue. 

Unless otherwise stated tables and charts refer to Canada only. 

Tables and charts indexed under the same heading do not necessarily relate to the same intervals or units of time. 



Tables 

Government Finance — See Public Finance 

Grains 

Acreage & Yield: by provinces ........ 96 

total 96 

Production: value: by provinces ........ 96 

total 15, 96 . 

See also Grains & Flour, Wheat, and Wheat & Flour 

Grains & Flour 

Exports: value 49, 100, 151 

See also Flour, Wheat and Wheat & Flour 



Charts 



H 

Housing 

Dominion Housing Act Loans 

See also Construction: Contracts Awarded 



I 

Imports' — See External Trade 

Income — See Farm Income, National Income, Salaries and Wages 

Industrial Activity M . 

Insurance Companies 

Foreign Liabilities & Assets 136 

Interest & Dividends 

Payments Abroad & Receipts from Abroad: by type of security 146 

total 33, 34, 127, 

International Purchases & Sales of Securities 

Canada: total 29, 77, 129 

By Nationality 29, 77, 129 

By Type of Security 29, 77, 129 

Net Purchases or Sales 29, 77, 129 

See also Foreign Investment 

Interest Rates — See Government Bonds and Treasury Bills 

Iron & Steel 

Imports: value 48, 99, 150 

volume 12, 65, 116 

Wholesale Price Indexes, Can., U.K. & U.S.A 

See also Steel and Tin Plate 



29 

29 

129 

29, 77, 129 



L 

Lead 

Export Price ................ 113 

Production: value & volume, by provinces ...... 68 

Leather — See Furs, Skins & Raw Leather 

Loans — See Chartered Banks and Federal Reserve System 

London Clearing Banks 

Advances ................. 102 

Cash 102 

Deposits 102 

Investments 102 

Lumber 

Exports: volume 13,66,117,168 66,117 

Production: volume ............... 66 

Wholesale Price 28, 81, 132 . .81 



INDEX 1939 



M indicates every issue. 

Unless otherwise stated tables and charts refer to Canada only. 

Tables and charts indexed under the same heading do not necessarily relate to the same intervals or units of time. 



Lumber & Shingles 
Exports: value 



Tables 
49, 100, 151 



Charts 



M 

Machinery & Vehicles 

Exports: value .......... 

Imports: value .......... 

See also Automobiles & Trucks 

Manufacturers 

Wholesale Price Index: Canada ...... 

U.K 

U.S.A 

See also individual commodities or groups 

Manufacturing 

Foreign Investment: by countries ....... 

Index of Production: U.S.A. ....... 

See also individual commodities or groups and Industrial Activity 

Metals — See Minerals and Non-Ferrous Metals 

Minerals 

Production of Certain Minerals: value & volume: by provinces 

total . 
See also individual minerals, Non-Ferrous Metals, 
and Non-Metallic Minerals 



49, 100, 151 
48, 99, 150 



15, 67, 80 
80, 102 
17, 80, 119 



17, 119 



Montreal Stock Exchange (inc. Curb Market) — See Stock Exchanges 
Municipal Debt — See Public Finance 

N 

National Debt — See Public Finance 

National Income 

Paid Out: U. S. index 17,119 

See also Farm Income, Salaries and Wages 

Natural Gas 

Production: value & volume, by provinces ...... 68 

New Issues — See Bond Issues 

Newsprint 

Exports & Imports: volume: North America . 
Production: volume ...... 

Production, Consumption & Stocks: North America 
Shipments to & Consumption by U.S. Publishers 
Wholesale Price ....... 



Newsprint & Wood Pulp 

Exports: volume .......... 

See also Bleached Sulphite Pulp and Paper, Wood Pulp & Pulpwood 



170 




M 




170 . 


. 45, 170 




. 64, 130 


28, 81, 132 . 


. 81 


13, 66, 117, 168 





Nickel 

Exports: volume 
Production: value 
volume 



Non-Ferrous Metal Products 
Imports: value 



13, 66, 117, 168 

68 

26, 64, 68, 94, 130, 163 



48, 99, 150 



MDEX 1939 

M indicates every issue. 

Unless otherwise stated tables and charts refer to Canada only. 

Tables and charts indexed under the same heading do not necessarily relate to the same intervals or units of time. 

Tables Charts 

Non-Ferrous Metals 

Export Prices ................ 113, 132 

Exports: value 49, 100, 151 

Wholesale Price Index .............. 67 

Note Circulation 

Bank of Canada: active ......... M .... M, 155 

active & total . . M . . . . M, 105, 155 

Bank of Canada Active & Chartered Bank M .... 20, 87, 121, 138 

Chartered Bank M .... 54, 56 

o 

Oil — See Petroleum & Products and Petroleum Oils 

P 

Paper, Wood Pulp & Pulpwood 

Exports: value 49, 100, 151 

See also Bleached Sulphite Pulp; Newsprint; and Newsprint 
& Wood Pulp 

Petroleum (Crude) 

Production: value & volume, by provinces ...... 68 

Petroleum & Products 

Imports: value 48,99,150 

Production: volume ............... 12, 167 

See also Gasoline 

Petroleum Oils 

Imports: volume 12, 65, 116, 167 12,167 

See also Gasoline 

Physical Volume of Business 

Index ............ M 

Platinum 

Production: value & volume ........ 68 

Power — See Electric Power 

Prices — See individual commodities or groups or Cost of Living, Retail Price 
Index, Wholesale Price Indexes and Wholesale Prices 

Production 

Canada — See individual commodities or groups, or Agriculture, 
Electric Power, Manufacturing, and Minerals 
See also Industrial Activity 
U.K.: index ... 102 

Provincial Debt — See Public Finance 

Public Finance 

Canadian National Railways — See Canadian National Railways 
Dominion 

Balance at Bank of Canada . ....... M .... M 

Bonds — See Debt (below) and Government Bonds 

Credits Abroad .......... 136 

Debt, Funded: Direct & Guaranteed: by currency of payment 8. 60. Ill 



10 



INDEX 1939 



M indicates every issue. 

Unless otherwise stated tables and charts refer to Canada only. 

Tables and charts indexed under the same heading do not necessarily relate to the same intervals or units of time. 



Dominion — continued 

Debt, Funded: Direct & Guaranteed: total by year of final maturity 

Increase or Decrease: direct 

direct & guaranteed 
guaranteed 

Sinking Funds .... 

See also Government Bonds 
Deficit .... 

Expenditure 

Government Savings Institutions 
Investments 

Loans .... 

New Issues — See Bond Issues 
Refunding Issues — See Bond Issues 
Retirements — See Bond Issues 
Revenue ..... 
Sinking Funds .... 
Summary 1933/34—1939/40 
Treasury Bills — See Treasury Bills 



Tables 



.so 



Charts 



60 



Dominion & Provinces 

Grants-in-aid: Old Age Pensions 

Relief 

Total 
Subsidies (Unconditional) 



Municipalities 

New Issues — See Bond Issues 
Refunding Issues — See Bond Issues 



Provinces 

Bonds Outstanding: direct & guaranteed, by currency of payment 

See also Government Bonds 
Government Savings Institutions ...... 

New Issues — See Bond Issues 

Refunding Issues — See Bond Issues 

Retirements — See Bond Issues 

Sinking Funds ......... 



8, 111 



Public Utilities 

Foreign Investment: by countries 



Pulp — See Bleached Sulphite Pulp, Newsprint & Wood Pulp, 
and Paper, Wood Pulp & Pulpwood 



Purchases & Sales of Securities — See Int. Pur. & Sales of Securities 



Railways 

Foreign Investment: by countries . 

See also Canadian National Railways 



Raw Materials 

Wholesale Price Indexes: Canada 
U.K. 
U.S.A. 



97, 145, 165 

102 

17, 119 



Refunding Issues — See Bond Issues 



NDEX 1939 



11 



M indicates every issue. 

Unless otherwise stated tables and charts refer to Canada only. 

Tables and charts indexed under the same heading do not necessarily relate to the same intervals or units of time. 

Tables Charts 
Relief 

Recipients: agricultural 62, 114, 164 . 63 

total urban & agricultural 62,114,164. 115 

urban: employable 61,62,114,164 63,115 

unemployable 61,62,114,164 63 

Rents 

Index 98 .... 98 

Retail Merchandise Sales 

Index of Value ............... 166 

Index of Volume . .............. 166 

Retail Price Index 166 

Value: by regions .......... 166 

total 166 

Retail Price Index 166 

See also Cost of Living 

Rubber (Crude) 

Imports: volume . . . . . . . . . .12,65, 116, 167 

Spot Price 28 

Rubber & Products 

Imports: value 48, 99, 150 



Salaries 

By Industries 



118 



Savings Institutions 

Caisses Populaires: deposits ..... 
Dominion Postal Savings: deposits 
Loan Companies: deposits ..... 
Provincial Government Savings Institutions: deposits 
Savings Banks: deposits ..... 
Trust Companies: deposits ..... 



Securities — See Banks, Bond Issues, Government Bonds, International 
Purchases & Sales of Securities, Public Finance, 
and Stock Exchanges 

Security Prices — See Government Bonds and Stock Exchanges 



Silver 

Export Price ............. 

Production: value & volume, by provinces ...... 68 

Steel 

Price 28, 81, 132 

Production: volume .......... M . 

See also Iron & Steel 



28 

9, 94, 148 



Stock Exchanges 

Common Stock Price Indexes: Canada 46, 93, 144 . . . 46, 93, 144 

U.K 46,93, 102 

U.S.A 17,46,93,119 

Market Value of Listings 46, 93, 144 

Member Borrowings 46, 93, 144 

Shares Traded: value .......... 46, 93, 144 



12 INDEX 1939 

M indicates every issue. 

Unless otherwise stated tables and charts refer to Canada only. 

Tables and charts indexed under the same heading do not necessarily relate to the same intervals or units of time. 

Tables Charts 

Stock Prices — See Stock Exchanges 

Sugar & Products 

Imports: value 48, 99, 150 

volume 12, 65, 116, 167 

Sulphite 

Bleached Sulphite Pulp: wholesale price 28, 81, 132 . 81 

T 

Tea 

Imports: volume 12,65,116,167 

Textiles & Fibres 

Imports: value 48, 99, 150 

Tin Plate 

Imports: volume . . . . . . . .12,65, 116, 167 

Tobacco 

Production: value .......... 78 

Wholesale Price Index: U.K 102 

Tourist Trade (International) 

Automobiles Entering & Leaving Canada ...... 84 

Net Receipts 33, 34, 84, 127 . . 84, 127 

Receipts & Expenditures 33, 84 . 33, 34, 84 

Tourists Entering Canada ......... 84 

Treasury Bills 

Can., U.K. & U.S.A.— average yield of successful tenders ... 7, 25, 41, 57, 75, 109, 126, 

160 
Dominion Government: amount outstanding ...... 23,76,110,161, 125 

average yield of successful tenders . . 7,25,41,57,75,109, 6, 40, 108, 125, 142 

126, 160 
net deliveries or retirements . .23, 76, 110, 161 

Trucks — See Automobiles & Trucks 



Unemployment — See Employment 



Vegetables — See Fruits & Vegetables 



w 

Wages 

Canada: index of rates: by industries ....... 51 

total 51 

by industries . . . . . . . . .118 

U.S.A.: index: factory ........... 



51 

50,51 
118 
17, 119 



NDEX 1939 



13 



M indicates every issue. 

Unless otherwise stated tables and charts refer to Canada only. 

Tables and charts indexed under the same heading do not necessarily relate to the same intervals or units of time. 



Wheat 

Canada: acreage & yield: by provinces .... 
total 

export price index ...... 

exports — see Grains & Flour and Wheat & Flour 

prices: Winnipeg cash & October futures . 

production: value & volume 

statistical position . 

wholesale price 
Chief Exporters: statistical position 
European Statistics 



Tables 



15, 96 

14 

28,81, 132 
153 



Charts 



132 

153 



85 



Wheat & Flour 

Exports: value .... 

volume 
See also Flour and Grains & Flour 



13, 14, 66, 117 



14, 116 
14, 116 



Wholesale Price Indexes 
Canada 



U.K 

U.S.A 

See also individual commodities or groups 



15, 16, 27, 50. 67, 80, 
97, 98, 131, 132, 145, 165 

16, 27, 80, 102, 131 
16, 17, 27, 80, 119, 131 



Wholesale Prices 

Chief Commodities .... 
See also individual commodities or groups 



28, 81, 132 



28, 81, 96, 113 



Wood Pulp — See Bleached Sulphite Pulp; Newsprint & Wood Pulp; 
and Paper, Wood Pulp & Pulpwood 



Wool (Raw) 

Imports: volume 



12, 65, 116, 167 



Zinc 



Export Price ............ 

Production: value & volume, by provinces ...... 68 



\.\T.\RY 1939 



Millions of Dollars 

4501 



BANK OF CANADA 

SOURCES AND DISTRIBUTION OF CASH 

MONTHLY AVERAGE OF WEDNESDAY FIGURES 



400 



350 



300 



250 



200 



150 



100 



50 



BANK OF CANADA LIABILITIES 



OTHER ACCOUNTS 




NOTES HELD BY CHARTERED BAM 




A.. 



CHARTERED BANK DEPOSIT* 
WITH BANK OF CANADA 

■yy. : :'yy-\ ■.' 






BANK OF CANADA ASSETS 



OTHER ASSETS 



Millions of Dollars 

1450 




J A S O N D 
1936 



JANUARY 1939 



Millions of Dollars 





LIABILITIES 




Chartered Bank Cash 


Govt. 

Deposits 


Other 
Deposits 


Active 

B. of C. 

Note 

Circulation 


All 
Other 

Accounts 


Tot 

Asse 

or 

Liabil 




Notes 
in Tills 


Deposits 

at 
B. of C. 


Total 


Average of 


















Wednesday 1'igures 


















1935- 9 Mths. 


37.2 


176.5 


213.7 


23.9 


.7 


48.9 


6.8 


294, 


1936-12 Mths. 


40.4 


184.7 


225.1 


22.5 


1.0 


64.0 


9.4 


322, 


1937-12 Mths. 


49.8 


191.4 


241.2 


25.8 


1.2 


90.6 


13.5 


372, 


1938-12 Mths. 


56.0 


199.6 


255.6 


22.8 


2.1 


105.9 


12.5 


399, 


1937— Dec. 


54.1 


197.8 


251.9 


21.5 


2.4 


107.3 


17.4 


400 


1938— Jan. 


59.9 


194.7 


254.6 


15.7 


2.9 


99.7 


13.9 


386 


Feb. 


51.6 


193.7 


245.3 


21.6 


2.4 


98.6 


13.3 


381 


Mar. 


49.6 


193.2 


242.8 


23.4 


2.6 


100.0 


13.6 


382 


Apr. 


52.8 


190.7 


243.5 


20.3 


2.7 


101.9 


13.8 


382 


May 


54.9 


193.3 


248.2 


16.4 


2.8 


102.1 


14.4 


383 


June 


53.0 


190.8 


243.8 


42.4 


2.1 


101.4 


15.1 


404 


July 


55.1 


192.6 


247.7 


16.0 


2.0 


101.3 


13.7 


380 


Aug. 


55.4 


199.8 


255.2 


13.3 


1.6 


104.3 


12.9 


387 


Sept. 


60.2 


205.5 


265.7 


21.4 


1.0 


111.5 


9.3 


408 


Oct. 


62.0 


216.2 


278.2 


28.6 


1.4 


118.4 


9.5 


436 


Nov. 


58.3 


219.9 


278.2 


26.6 


1.5 


116.4 


10.5 


433 


Dec. 


59.6 


204.6 


264.2 


2S.4 


2.3 


115.6 


10.1 


420 


Wednesdays 


















1939— Jan. 4 


61.2 (2) 


205.1 


266.3 (2) 


14.6 


3.2 


113.6 <2) 


9.9 


407 


11 


61.0 <2> 


207.6 


268.6 (2) 


13.0 


3.6 


108.8 (2> 


9.7 


403 


18 


59.5 (2) 


217.0 


276.5 (2) 


52.7 


3.6 


107.8 (2) 


11.5 


452 


25 


58.5 (2) 


212.0 


270.5 2 ' 


13.9 


2.6 


103.9 (2) 


9.5 


400 



(1) Includes "Other Securities". 



CHARTERED BANKS : ANNUAL CLASSIFICATION OF DEMAND AND NOTICE DEPOSITS 

Department of Finance 









NUMBER 










AMOUNT 






As at 






Thousands 








Millions of Dollars 




October 31 
























1934 


1935 


1936 


1937 


1938 


1934 


1935 


1936 


1937 


1938 


Demand Deposits: 






















$1,000 or less 


580.9 


574.3 


580.0 


596.8 


604.5 


71.8 


76.0 


81.7 


84.9 


88.1 1 


$1,000 to $5,000 


35.3 


39.3 


43.6 


47.4 


50.1 


72.3 


80.1 


89.7 


97.8 


102.4 


$5,000 to $25,000 


8.6 


9.4 


10.5 


11.4 


12.0 


88.7 


95.4 


108.4 


114.8 


121.5 


$25,000 to $100,000 


1.9 


2.1 


2.3 


3.5 


2.7 


87.5 


99.7 


107.7 


115.5 


125.4 


Over $100,000 


.6 


.8 


.7 


.8 


.9 


218.4 


271.0 


279. S 


264.1 


306. i 


Adjustment Items 


- 


- 


- 






+3.9 


+ 2.7 


-3.0 


+ 2.0 


+5.8 


Total Demand Deposits 


627.3 


625.9 


637.1 


660.0 


670.1 


542.4 


624.9 


664.3 


679.1 


749.4 


Notice Deposits: 






















$1,000 or less 


3,766.0 


3,716.3 


3,664.8 


3,770.7 


3,797.5 


116.5 


125.9 


132.5 


456.0 


452.8 j 


$1,000 to $5,000 


246.1 


263.4 


268.5 


274.8 


284.2 


185.7 


518.5 


537.1 


551.4 


571.7 


$5,000 to $25,000 


28.9 


32.5 


34.2 


36.3 


38.1 


249.6 


280.9 


297. (') 


315.6 


331.0 


$25,000 to $100,000 


1.9 


i'.:; 


2.3 


2.4 


2.5 


82.6 


99.8 


99.1 


103.6 


111.9 


Over $100,000 


.4 


.5 


.5 


.5 


.6 


L31.6 


136.2 


141.3 


151.1 


1S5.2 


Adjustment Items 


- 








- 


+4.2 


1 1.3 


! 2.6 


+3.0 


+3.2 


Total Notice Deposits 


4,043.2 


4,015.0 


3,970.3 


4,084.8 


4,123.0 


1,370.2 


1,465.6 


1,510.3 


1,583.7 


1,655.8 



JANUARY 1939 


















\NADA 
















Millions of Dollars 


ASSETS 




Reserve 


Securities 


Advances 


All 

Other 

Accounts 






Silver 


Foreign 
Currencies 


Total 
Reserve 


Reserve 
Ratio 


Dom.-Prov. 
Short 


Dom.-Prov. 
Long 


Total*" 
























Average of 

Wednesday Figures 




1.4 


10.3 


166.2 


57.87 


25.6 


94.0 


119.6 


4.1 


4.0 


1935- 9 Mths 




1.8 


11.4 


192.9 


61.69 


37.0 


86.3 


123.2 


1.7 


4.2 


1936-12 Mths 


1 


2.5 


20.4 


204.8 


57.11 


57.9 


98.4 


162.2 


- 


5.1 


1937-12 Mths 


■1 


.9 


28.7 


210.6 


54.50 


122.5 


53.0 


181.2 


.9 


6.3 


1938-12 Mths 




2.7 


21.8 


204.2 


53.30 


82.5 


94.4 


189.1 


- 


7.2 


Dec— 1937 


7 


3.0 


16.3 


199.0 


53.38 


77.5 


91.2 


180.9 


1.3 


5.6 


Jan. — 1938 





3.0 


20.3 


203.4 


55.26 


72.7 


88.2 


173.1 


- 


4.8 


Feb. 


2 


3.0 


22.3 


205.5 


55.72 


119.3 


41.5 


173.1 


- 


3.8 


Mar. 


7 


1.8 


21.5 


204.0 


55.37 


116.3 


41.5 


170.1 


2.8 


5.4 


Apr. 


3 


.4 


24.4 


206.1 


55.78 


120.7 


39.0 


170.9 


- 


7.0 


May 


9 


- 


37.7 


219.6 


56.34 


113.3 


51.9 


171.3 


- 


14.0 


June 


8 


- 


26.5 


207.3 


56.48 


114.5 


52.5 


167.8 


- 


5.6 


July 


5 


- 


26.0 


206.5 


55.17 


121.3 


52.5 


173.8 


- 


6.9 


Aug. 


5 


- 


32.9 


214.4 


53.65 


139.8 


48.9 


188.7 


- 


5.8 


Sept. 


4 


- 


36.2 


217.6 


51.02 


161.9 


46.1 


208.0 


4.8 


5.0 


Oct. 


2 


- 


39.8 


220.9 


52.27 


162.2 


42.5 


204.7 


2.0 


5.6 


Nov. 


4 


- 


40.9 


223.3 


54.40 


151.0 


40.5 


191.4 


- 


5.9 


Dec. 

Wednesdays 





- 


28.5 


215.4 


54.17 


142.1 


40.6 


182.7 


- 


9.4 


Jan. 4 1939 


1 


- 


29.8 


218.9 


55.54 


138.7 


40.8 


179.5 


- 


5.5 


11 


8 


- 


39.8 


228.6 


51.86 


141.5 


42.5 


184.1 


- 


39.5 


IN 


8 


- 


26.3 


215.1 


55.03 


138.3 


42.4 


180.7 


- 


4.6 


26 



CHARTERED BANKS : ANNUAL CLASSIFICATION OF LOANS IN CANADA 



Miliums of Dollars 



Department of Finance 



As at October 31 



Provincial ( "xovernments 

Municipal Governments and School Districts 

Agriculture: 

Farmers Loans, Cattle Loans, Fruit Raisers 

Loans to Grain Dealers, Grain Exporters and Seed Merchants 

Total Agriculture 

Financial : 

Call loans and other accommodation to brokers and dealers 

Loans to specified institutions 

Loans to individuals against securities 

Total Financial 

Merchandising, wholesale and retail 

Manufacturers of and dealers in lumber, pulpwood and 

products thereof 

Other manufacturing of all descriptions 

Mining 

Fishing, including loans to packers and curers of fish 

Public Utilities, including Transportation companies 

Loans to Building Contractors and others for building purposes 

Loans to Churches, Hospitals, Charitable and Religious institutions 
Other Loans 

Total Loans in Canada 



26.8 

107.4 

64.2 
150.5 
214.7 

90.7 

70.0 

115.2 

275.9 

117.5 

74.3 

140.1 

0.0 

7.0 

71.4 

21.8 

19.7 

06.5 



1,149.7 



20.7 
96.8 

59.9 
166.4 
226.4 



(Ki. 7 

03.1 

101.2 

231.0 

113.8 

73.0 

119.2 

6.8 

7.2 

71.3 

24.1 

10.1 

52.3 



1,067.6 



14.7 
92.0 

54.0 

64.5 

118.5 

97.4 

73.8 

111.5 

282.7 

115.9 

64.9 

130.0 

6.9 

8.2 

8.4 

23.7 

14.8 

53.0 



933.5 



1937 



26.4 
94.2 



o/.o 
30.8 
88.3 



73.5 

69.0 

142.8 

285.3 

129.6 

62.9 

156.6 

6.1 

7.7 
11.9 
33.6 
10.4 
01.6 



980.6 



22.8 
114.5 

56.8 

91.7 

148.5 



62.4 

66.9 

120.5 

249.8 

133.7 

75.2 

138.4 

8.9 

8.7 

24.9 

39.2 

19.4 

74.7 



1,058.6 



Millions of Dollars 



JANUARY 1939 

II— CHAF 

Bo; 



LIABILITIES 






Notes 


Deposits 


Cash 
in 

Canada"' 


Securities 






Time 


Dom. 


Canadian 


Foreign 


Total 


DOM.-PROV. 


0i 










and Prov. 


Deposits'" 


Deposits* 2 ' 


Short 


Long 


Average of 






















^°*^ 


Month-end Figures 
























1926 


169 


553 


1,341 


53 


1,958 


330 


2,333 


197 


344 


1 


1929 


178 


696 


1,480 


102 


2,293 


418 


2,837 


212 


342 


1 


1932 


132 


486 


1,376 


82 


1,955 


312 


2,322 


186 


490 


2 


1933 


130 


489 


1,379 


62 


1,941 


308 


2,290 


195 


627 


2 


1934 


136 


514 


1,373 


66 


1,966 


322 


2,317 


203 


684 


1 


1935 


126 


569 


1,445 


65 


2,104 


348 


2,476 


216 


407 


454 


1 


1936 


119 


618 


1,518 


77 


2,245 


401 


2,668 


225 


447 


628 


2 


1937 


110 


691 


1,574 


90 


2,382 


421 


2,840 


240 


445 


674 


3 


1938 


100 


690 


1,630 


94 


2,449 


408 


2,892 


252 


447 


696 


2 


End of 
























1937— Dec. 


102 


699 


1,583 


53 


2,387 


409 


2,819 


250 


427 


684 


3 


1938— Jan. 


98 


640 


1,591 


84 


2,360 


399 


2,783 


251 


447 


690 


2 


Feb. 


102 


634 


1,615 


70 


2,361 


393 


2,783 


236 


444 


696 


3 


Mar. 


100 


648 


1,623 


67 


2,379 


399 


2,808 


242 


459 


685 


2 


Apr. 


100 


687 


1,631 


96 


2,445 


398 


2,884 


243 


461 


694 


3 


May 


97 


670 


1,625 


107 


2,438 


404 


2,880 


241 


448 


700 


3 


June 


104 


690 


1,621 


148 


2,484 


410 


2,939 


242 


437 


719 


3 


July 


101 


671 


1,623 


101 


2,445 


397 


2,862 


235 


422 


717 


2 


Aug. 


99 


687 


1,635 


96 


2,460 


400 


2,878 


257 


435 


710 


2 


Sept. 


104 


725 


1,633 


89 


2,492 


425 


2,937 


264 


445 


684 


2 


Oct. 


101 


749 


1,656 


75 


2,518 


419 


2,961 


286 


451 


669 


2 


Nov. 


97 


750 


1,655 


94 


2,506 


436 


3,004 


271 


448 


693 


2 


Dec. 


95 


734 


1,660 


106 


2,498 


420 


2,986 


257 


469 


693 


3 



(1) Estimated month-end deposits payable in Canadian currency. (2) Includes inter-bank deposits. 

(3) Until March 1935; Gold and Coin in Canada, Dominion Notes and "Free" Central Gold Reserve Deposits; after that date: Bank of Canada Notes and Deposits. 



CHARTERED BANKS PUBLIC DEMAND AND NOTICE DEPOSITS IN CANADA : 1934 -38 



BILLIONS OF DOLLARS 



BILLIONS OF DOLLARS 




1934 



1935 



1936 



1937 



JANUARY 1939 

Jbanks 

* 



140 
267 
117 
102 

102 
82 
93 

107 

67 

76 

72 
70 
63 
64 
66 
69 
71 
71 
60 
66 
64 
65 



ASSETS 



934 
1 ,343 
1,032 

907 

869 
829 
699 
732 

786 

749 

731 
737 
752 

770 
769 
786 
786 
781 
829 
848 
837 
806 



87 
112 
165 
147 

145 
134 
121 
117 
129 

113 

107 
114 
118 
136 
130 
135 
134 
132 
136 
137 
133 
134 



250 261 

301 ! 248 

84 ! 172 

92 j 148 



107 
72 
64 
68 
51 

60 

51 
51 
51 
50 



138 
146 
150 
165 
158 

166 

168 
169 
169 
160 



58 I 162 



181 
152 
144 
143 
142 
148 
152 



Total 
Assets 



2,864 
3,528 
2,869 
2,831 

2,838 
2,957 
3,145 
3,317 
3,349 

3,281 

3,239 
3,245 
3,266 
3,337 
3,332 
3,399 
3,322 
3,334 
3,400 
3,424 
3,455 
3,431 



Millions of Dollars 



DAILY AVERAGE DATA 




Cash 


Canadian 


Ratio of 
Cash to 


Total 
Active 




Canada"' 


Deposits* 4 * 


Deposits in 


Note 






Canada 


Circulation' 5 ' 












Average of 
Daily Figures 


192 


1,958 


9.8 


195 


1926 


191 


2,293 


8.3 


205 


1929 


172 


1,955 


8.8 


158 


1932 


189 


1,941 


9.8 


157 


1933 


201 


1,966 


10.2 


163 


1934 


213 


2,108 


10.1 


169 


1935 


225 


2,213 


10.2 


182 


1936 


240 


2,357 


10.2 


200 


1937 


254 


2,412 


10.5 


205 


1938 


251 


2,350 


10.7 


214 


Dec- 1937 


253 


2,337 


10.8 


195 


Jan.— 1938 


245 


2,325 


10.5 


196 


Feb. 


242 


2,331 


10.4 


199 


Mar. 


240 


2,382 


10.1 


203 


Apr. 


247 


2,401 


10.3 


199 


May 


243 


2,421 


10.0 


200 


June 


245 


2,444 


10.0 


201 


July 


254 


2,426 


10.5 


201 


Aug. 


263 


2,442 


10.8 


214 


Sept. 


277 


2,474 


11.2 


220 


Oct. 


279 


2,487 


11.2 


214 


Nov. 


261 


2,473 


10.6 


216 


Dec. 



CHARTERED BANKS ; CURRENT LOANS TO THE PUBLIC IN CANADA : 1934-38 



MILLIONS OF DOLLARS 



1000 



LLIONS OF DOLLARS 




1000 



Note: The Oct. 31 classifications shown in the chart above are compiled from the table on 
loans other than current loans to the public in Canada. 



1938 

ly include small amounts of 



JANUARY 1939 



III— SECURITY PRICES 

Bank of Canada 









Dominion of Canada Bonds Payable 


in Canada Only 














Middle Prices and Yields 








Average of 






















\y 2 % due 


Nov. 1, 


3% due J 


une 1, 


5% due Oct. 15, 


2J^% due 


June 1, 


l^%due 


June 1, 




1948-58 


1950-55 


1943 


1943 


1940 




Price 


Yield 


Price 


Yield 


Price 


Yield 


Price 


Yield 


Price 


Yield 


1936 


111.43 


3.36 


99.91 


3.00 


114.80 


2.74 


102.68 


2.08 


100.75° 


1.30 


1937 


109.S7 


3.44 


96.87 


3.23 


111.94 


2.91 


101.05 


2.31 


99.97 


1.51 


1938 


112.05 


3.13 


99.01 


3.08 


113.51 


2.27 


102.75 


1.91 


100.80 


1.07 


1937— Dec. 


110.46 


3.35 


97.36 


3.20 


111.80 


2.79 


100.60 


2.38 


99.59 


1.67 


1938— Jan. 


111.00 


3.28 


97.67 


3.18 


112.49 


2.64 


101.26 


2.25 


100.16 


1.43 


Feb. 


111.42 


3.23 


98.17 


3.14 


113.38 


2.46 


102.12 


2.07 


100.68 


1.20 


Mar. 


111.85 


3.18 


98.55 


3.11 


113.84 


2.34 


102.50 


1.99 


100.84 


1.11 


Apr. 


112.15 


3.14 


99.54 


3.04 


113.89 


2.30 


102.62 


1.96 


101.03 


1.01 


May 


112.84 


3.06 


99.91 


3.01 


114.51 


2.15 


103.32 


1.81 


101.30 


.86 


June 


112.86 


3.05 


99.51 


3.04 


114.76 


2.06 


103.58 


1.74 


101.36 


.80 


July 


112.39 


3.09 


99.20 


3.06 


113.73 


2.22 


103.11 


1.83 


101.08 


.92 


Aug. 


112.45 


3.07 


99.21 


3.06 


113.46 


2.23 


102.91 


1.86 


100.81 


1.04 


Sept. 


111.00 


3.22 


97.96 


3.16 


112.34 


2.41 


102.16 


2.02 


100.32 


1.31 


Oct. 


111.73 


3.13 


98.89 


3.09 


112.62 


2.31 


102.55 


1.92 


100.38 


1.26 


Nov. 


112.53 


3.03 


99.75 


3.02 


113.66 


2.06 


103.52 


1.70 


100.83 


.96 


Dec. 


112.36 


3.04 


99.80 


3.02 


113.48 


2.06 


103.38 


1.71 


100.75 


.98 


1939— Jan. <2) 


112.33 


3.04 


99.90 


3.01 


113.13 


2.08 


103.22 


1.73 


100.54 


1.10 



(1) Average July 1 - Dec. 31. (2) Average Jan. 1 - 25. 



YIELDS OF DOMINION GOVERNMENT BONDS: 1937-39 

PAYABLE IN CANADA ONLY 



5% 



10% 



I 5% 



2 0% 



25% 



30% 



35% 



05% 



20% 




2 5% 



35% 



40%l 



ANTARY 1939 



III— SECURITY PRICES 

Bank of Canada 









Government Bonds 






Treasury Bills 

Three Months 










Average 


Yield of Successful 


Average of 














Tender s u) 






U. K.*t<» 


U.S.A.* 






















U K 


USA. 




Price 


Yield 


Price 


Yield 


Price 


Yield 








1936 


105.67 


3.18 


106.48 


3.06 


103.45 


2.67 


.843 


.595 


.131 t3) 


1937 


103.37 


3.34 


101.15 


3.42 


102.61 


2.73 


.719 


.547 


.509 {i) 


1938 


105.53 


3.10 


100.84 


3.42 


104.70 


2.54 


.590 


.614 


.055 


1937— Dec. 


103.91 


3.28 


101.37 


3.40 


102.78 


2.71 


.761 


.688 


.124™ 


1938— Jan. 


104.34 


3.23 


102.12 


3.35 


103.33 


2.66 


.726 


.500 


All 


Feb. 


104.80 


3.18 


102.68 


3.31 


103.43 


2.65 


.648 


.504 


.078 


Mar. 


105.20 


3.14 


100.93 


3.42 


103.57 


2.64 


.524 


.506 


.070 


Apr. 


105.85 


3.09 


101.44 


3.39 


103.68 


2.63 


.503 


.512 


.061 


May 


106.38 


3.03 


101.48 


3.39 


105.04 


2.52 


.471 


.504 


.027 


June 


106.19 


3.04 


101.68 


3.37 


105.15 


2.51 


.465 


.574 


.016 


July 


105.80 


3.07 


102.52 


3.31 


105.24 


2.50 


.489 


.522 


.054 


Aug. 


105.83 


3.07 


102.06 


3.35 


105.51 


2.48 


.519 


.506 


.047 


Sept. 


104.48 


3.19 


98.45 


3.56 


104.53 


2.55 


.608 


.945 


.106 


Oct. 


105.31 


3.11 


99.50 


3.52 


105.71 


2.46 


.747 


.773 


.018 


Nov. 


106.14 


3.03 


99.30 


3.53 


105.46 


2.48 


.693 


.526 


.027 


Dec. 


106.08 


3.03 


97.90 


3.57 


105.71 


2.45 


.672 


1.003 


.013 


1939— Jan. (6) 


106.11 


3.02 


97.16 


3.60 


106.14 


2.41 


.690 


.534 


Nil 



* Average of two long term issues for each country. 

t Differing coupon rates and maturity provisions, and the fact that the U. S. Treasury issues are exempt from "normal" income tax, vitiate any direct 
comparison of absolute yield levels. 

(1) United Kingdom issues are quoted in London to include accrued interest but are given here excluding interest. 

(2) On (or nearest to) 15th of each month. (3) 9 months. (4) 120 days. (5) 96 days. (6) Average Jan. 1 - 25 for Bond Prices & Yields. 



LONG TERM DOMESTIC GOVERNMENT BOND YIELDS : CANADA, U.K. & U.S.A. : 1937-39 

DAILY OPENING QUOTATIONS 



24% 



26% 



28% 




AVERAGE YIELDS OF 
3% DUE 15 SEPT.I95I-55 
2'/8 /o DUE 15 MAR .1955-60 




AVERAGE YIELDS OF 

4>i% DUE I NOV., 1948-56 

3% DUE JUNE 1,1950-55 



24% 



2 6% 



28% 



30% 



32% 



34% 



3 6% 



38% 



DEC JAN. FEB MAR, APR. MAY JUNE 



OCT. NOV, DEC, 



JANUARY 1939 



Millions of Dollars 



IV— PUBLIC FINANCE 

DOMINION AND PROVINCIAL DIRECT AND GUARANTEED AND OTHER C.N.R. BONDS 
GROSS AMOUNT OUTSTANDING AS AT 31st DECEMBER, 1938 <2) 
Bank of Canada 



Dominion — Direct 

— Gtd. other than C.N.R. 
C.N.R. — Gtd. byDom 

— Gtd. by Provs 

— Unguaranteed 

Prince Edward Island 

Nova Scotia —Direct 

—Gtd 

New Brunswick —Direct 

-Gtd. (6) 

Quebec 
Ontario 
Manitoba 

Saskatchewan 



— Direct . 
—Gtd.... 
—Direct . 
—Gtd.... 
—Direct . 
— Gtd. (6) . 



-Direct . 

-Gtd. (6) , 

Alberta — Direct . 

_ -Gtd. <6) . 

British Columbia— Direct. 

-Gtd. (6 \ 



Total 



Payable in: 



2,322.2 <5; 
L3 

274.7 

21.8 

6.7 
56.4 

1.5 

48.3 

.5 

206.1 

2.4 

316.5 

115.6 

29.3 

3.2 

57.1 

.3 

29.8 

29.4 
2.0 



3,525.0 <! 



489.0 
24.2 

7.7 



8.8 



529.9 



Canada 
or 

New York 



65.0 
14.9 

40.6 
34.2 

39.0 

50.4 

7.1 

41.7 

.4 

51.2 

.1 

59.0 

6.8 
64.2 

1.8 



477.1 



Canada. 
New York 
or London 



28.6 

351.4 

18.8 

43.7 



.3 

15.0 

1.8 

234.9 

8.5 

3.5 



4.7 
19.9 



4.0 
1.2 



736.5 



406.2 

289.5 

48.2 
85.7 



7.2 
.2 

10.5 

5.9 

19.3 

10.9 

18.8 

44.6 
2.4 



955.2 



3,217.4 
30.6 

1,004.9 

67.1 

173.8 

6.7 

102.7 

1.5 

89.8 

1.0 

270.6 

4.2 

607.7 

140.0 

94.0 

3.6 

123.9 

.5 

127.6 

6.8 
142.3 

7.4 



6,223.7' 



Contra Sinking Fund 

Investments:* 4 ' 

book value as at latest 

available date 


67.9 


Sept 


30th, 1938 


t" 

1.3 
6.4 


Dec. 


31st. 1937 


Nov 
Nov 


15th, 1938 
30th, 1937 


8.9 
.1 


Oct. 
Oct. 


31st, 1937 
31st. 1937 


23.6 


Nov 


1st, 1938 


10.1 

7.2 

11.4 


Nov 
Apr. 


30th, 1938 
various 
30th, 1938 


13.6 

.2 

12.0 

1.6 
33.6 

1.8 


Dec. 
Apr. 
Mar 

Mar 


31st, 1938 
30th, 1937 
31st, 1938 

various 
31st, 1938 

various 







(1) Treasury Bills are excluded. (2) Figures for the gross amount of bonds out landing are compiled from latest official sources adjusted to 31st December, 1938. by sub- 
sequent known issues and redemptions; when full details regarding these become available minor revisions may be necessary, (3) Including issues payable in Canada 
or London, one issue payable in London or New York, and one issue payable in London or Paris. (4) Figures for guaranteed issues are only approximate since complete 
particulars are not in all cases available. (S) The $33.3 mm. of School Land Debenture Stock issued by the Dominion and held by Provinces is excluded. (6) C.N.R. 
issues guaranteed by the provinces, being included under the C.N.R. heading, are excluded from provincial headings. 



DOMINION DIRECT AND GUARANTEED BONDS = MATURITY DISTRIBUTION 

MILLIONS OF DOLLARS AS AT 31 DEC . 1938 MILLIONS OF DOLLARS 




1939 40 41 42 43 44 45 46 47 48 49 '50 51 '52 '53 '54 '55 56 '57 58 59 60 
♦Gross Amount outstanding: School Land Debenture Stock and Treasury Bills are excluded. 



62 63 64 '65 '66 67 68 69 70 



ANUARY 1939 



V— INDUSTRIAL ACTIVITY 

Dominion Bureau of Statistics 





Physical 
Volume of 


PRODUCTION 


Con- 


Car 
Loadings 


Employ- 




Business 
Index 


Gold 


Copper 


Steel 


Auto- 
mobiles 


News- 


Central 
Electric 


Contracts 


Index<» 




Seasonally 
adjusted 








& Trucks 




Stations 






Seasonally 
adjusted 




Thousands 


Thousands 


Thousands 


Thousands 


Thousands 


Millions 


Millions 






1926=100 


Fine Ounces 


Short Tons 


Long Tons 


Short Tons 


Kilowatt Hrs. 


of Dollars 




1926 = 100 


Annual TotalsU) 






















1926 


100.0 


1,754 


67 


776 


205 


1,889 


12,093 


373 


3,253 


100.0 


1929 


125.5 


1,928 


124 


1,378 


263 


2,725 


17,963 


577 


3,524 


119.2 


1932 


78.7 


3,044 


124 


339 


61 


1,919 


16,052 


133 


2,176 


86.4 


1933 


79.7 


2,949 


150 


410 


66 


2,022 


17,339 


97 


2,032 


84.2 


1934 


94.2 


2,972 


182 


758 


117 


2,605 


21,160 (4) j 126 


2,321 


96.4 


1935 


102.4 


3,285 


210 


942 


173 


2,765 


23,404 (4) 160 


2,358 


99.8 


1936 


112.2 


3,748 


211 


1,116 


162 


3,225 


25,394 I 163 


2,494 


104.0 


1937 


122.7 


4,096 <4) 


265 


1,403 <4 ' 


207 


3,638 


27,584 (4) , 224 


2,635 


114.1 


1938 


112.9 


4,644 C5) 


294 <S) 


1,156 


166 


2,625 


25,994 


187 


2,429 


111.4 


Monthly Totals 






















1937-Aug. 


123.4 


349.1 


22.3 


126.7 


10.7 


318.7 


2,198 


24.8 


231.0 


118.4 


Sept. 


123.8 


348.5 


24.0 


114.6 


4.4 


312.4 


2,204 


21.7 


262.0 


119.6 


Oct. 


127.4 


359.4 


26.0 


114.5 


8.1 


314.6 


2,365 


20.2 


260.0 


119.8 


Nov. 


127.9 


353.3 


25.4 


110.7 


16.6 


302.2 


2,415 


14.7 


235.1 


118.8 


Dec. 


121.4 


362.2 


24.6 


98.3 


21.1 


293.0 


2,458 


10.8 


204.2 


117.8 


1938-Aug. 


110.5 


412.1 


24.7 


82.8 


6.5 


220.3 


2,072 


22.1 


213.1 


110.6 


Sept. 


119.2 


409.6 


25.1 


73.6 


6.1 


231.9 


2,164 


19.5 


249.6 


111.0 


Oct. 


118.6 


411.3 


24.7 


76.3 


5.8 


254.9 


2,329 


18.1 


256.6 


109.7 


Nov. 


123.4 


410.0 


23.7 


90.1 


18.0 


245.3 


2,376 


15.0 


219.2 


111.3 


Dec. 


115.6 






78.6 


18.7 


209.8 


2,350 


10.5 


178.4 


112.3 



(1) As at end of month. (2) Average of months in case of Physical Volume of Business and Employment Indexes. 
(5) 12-months ending November 1938 



(3) Preliminary. 



PRODUCTION OF STEEL INGOTS AND CASTINGS = 1926-38 

THOUSANDS OF LONG TONS THOUSANOS OF LONG TONS 



1500 



1200 



1500 



1200 




1926 1927 1928 1929 1930 1931 1932 1933 1934 1935 1936 1937 1936 1939 



10 



JANUARY 1939 



VI 



ESTIMATED EMPLOYMENT AND UNEMPLOYMENT OF WAGE-EARNERS 

Dominion Bureau of Statistics 



Calendar 

Year 
Averages 


Number in Thousands 


I 


NDEXES 1926 = 


100 


Ratio of 


Total 
Wage- 
Earners 


Wage- 
Earners 
Employed 


Wage- 
Earners 
Unemployed 


Total 
Wage- 
Earners 


Wage- 
Earners 
Employed 


Wage- 
Earners 
Unemployed 


Unemployed 

to Total 
Wage-Earners 


1921 


1,971 


1 ,795 


176 


92.1 


87.9 


177.8 


8.9 


1922 


1,967 


1,830 


138 


91.9 


89.6 


139.4 


7.0 


1923 


2,059 


1,958 


101 


96.2 


95.9 


102.0 


4.9 


1924 


2,042 


1,897 


145 


95.4 


92.9 


146.5 


7.1 


1925 


2,063 


1,920 


144 


96.4 


94.0 


145.5 


7.0 


1926 


2,140 


2,042 


99 


100.0 


100.0 


100.0 


4.6 


1927 


2,209 


2,147 


62 


103.2 


105.1 


62.6 


2.8 


1928 


2,359 


2,299 


60 


110.2 


112.(1 


60.1 


2.5 


1929 


2,551 


2,444 


107 


119.2 


119.7 


108.1 


4.2 


1930 


2,654 


2,313 


341 


124.0 


113.3 


344.5 


12.8 


1931 


2,537 


2,095 


442 


118.6 


102.6 


446.5 


17.4 


1932 


2,459 


1,820 


639 


114.9 


89.1 


645.5 


26.0 


1933 


2,434 


1,788 


647 


113.7 


87.6 


653.5 


26.6 


1934 


2,530 


2,009 


520 


118.2 


98.4 


525.3 


20.6 


1935 


2,539 


2,056 


483 


118.6 


100.7 


487.9 


19.0 


1936 


2,572 


2,142 


430 


120.2 


104.9 


434.3 


16.7 


1937 


2,706 


2,369 


337 


126.4 


116.0 


340.4 


12.5 


1938 f 


2,704 


2,303 


401 


126.4 


112.8 


405.1 


14.8 



(*) Wage-earners are denned in general, as persons who have worked for a wage or salary or who have had specific vocational training. 

are. with appropriate fractional weightings, included in both the employed and unemployed categories, 
(t) Average of first eleven months. 



ESTIMATED EMPLOYMENT AND UNEMPLOYMENT OF WAGE-EARNERSf : 1921-38 
Thousands Thousands 



3000 



2400 



1300^ 



3000 



-2400 



1800 




1200 



1200 



1937 1938 1939 



tSee notes above. 



\MARY 1939 



11 



Millio?is of Dollars 



VII— CONSTRUCTION CONTRACTS AWARDED 

Compiled from MacLean Building Reports Limited 





Private Contracts 


Public 
Contracts 


Total 


Distribution by Areas 




Resi- 
dential 


In- 
dustrial 


Business 


Engin- 
eering 


Total 
Private 


Con- 
tracts 


Maritime 


Quebec 


Ontario 


Western 


Annual Totals 
























1926 


109.6 


79.7 


84.3 


25.0 


298.5 


74.4 


372.9 


8.4 


151.9 


141.9 


70.7 


1929 


128.9 


63.0 


139.6 


99.4 


430.9 


145.7 


576.7 


20.2 


187.8 


215.8 


152.9 


1933 


23.9 


9.1 


16.2 


9.0 


58.2 


39.1 


97.3 


7.2 


32.5 


42.6 


15.0 


1934 


30.6 


8.0 


19.3 


13.1 


71.1 


54.7 


125.8 


10.0 


34.1 


63.4 


18.3 


1935 


36.4 


10.3 


19.8 


22.1 


88.6 


71.7 


160.3 


14.4 


44.5 


70.9 


30.6 


1936 


42.9 


15.0 


24.4 


29.9 


112.2 


50.4 


162.6 


17.9 


45.7 


72.4 


26.5 


1937 


56.2 


33.8 


33.4 


28.0 


151.4 


72.6 


224.1 


21.6 


71.9 


97.8 


32.8 


1938 


55.0 


16.0 


32.1 


23.2 


126.3 


61.0 


187.3 


19.5 


65.8 


73.1 


28.9 


Monthly Totals 
























1937-July 


5.4 


3.8 


3.8 


1.7 


14.7 


6.8 


21.5 


1.1 


7.3 


7.7 


5.4 


Aug. 


4.7 


1.9 


2.7 


3.3 


12.7 


12.2 


24.8 


1.6 


11.7 


8.4 


3.2 


Sept. 


4.8 


7.5 


2.6 


2.4 


17.3 


4.5 


21.7 


.7 


6.6 


11.9 


2.6 


Oct. 


4.9 


2.2 


2.3 


5.0 


14.4 


5.8 


20.2 


2.0 


7.0 


6.9 


4.3 


Nov. 


4.3 


1.3 


2.2 


3.5 


11.4 


3.3 


14.7 


1.3 


6.1 


5.4 


1.9 


Dec. 


2.7 


.4 


1.6 


2.2 


6.9 


3.8 


10.8 


.9 


5.6 


3.3 


1.0 


1938-July 


5.8 


2.0 


2.9 


3.3 


14.0 


7.2 


21.2 


2.2 


8.7 


6.7 


3.5 


Aug. 


5.3 


1.0 


3.1 


1.8 


11.1 


11.0 


22.1 


2.0 


6.8 


9.9 


3.4 


Sept. 


4.6 


.9 


4.3 


1.9 


11.7 


7.8 


19.5 


1.8 


8.0 


5.8 


3.9 


Oct. 


5.2 


1.2 


3.3 


1.8 


11.5 


6.6 


18.1 


1.2 


6.3 


7.9 


2.7 


Nov. 


5.6 


1.4 


2.4 


1.9 


11.3 


3.8 


15.0 


1.3 


6.1 


5.8 


1.9 


Dec. 


2.9 


.7 


1.4 


1.8 


6.8 


3.8 


10.5 


.9 


4.8 


4.0 


.8 



RESIDENTIAL CONSTRUCTION CONTRACTS AWARDED ; DISTRIBUTION BY PROVINCES- 1923-38 



MILLIONS OF DOLLARS 

1501 



1ILLIONS OF DOLLARS 

II50 



CALENDAR YEAR TOTALS 



^BRITISH COLUMBI- 



1 00 




12 



JANUARY 1939 



VIII— EXTERNAL TRADE : VOLUME OF IMPORTS 

Compiled from Trade of Canada, Dominion Bureau of Statistics 







Sugar 

and 

Syrups 


Tea 


Coffee 


Raw- 
Cotton 


Raw 
Wool 


Petroleum 
Oils 


Crude 
Rubber 


Coal 


Tin 
Plate 


Structural 
Iron 
and 
Steel 


Index: 1 " 

Volume 

of 

Total 




Pounds 


Pounds 


Pounds 


Pounds 


Pounds 


Gallons 


Pounds 


Short tons 


Short tons 


Short tons 


Imports 






Millions 


Millions 


Millions 


Millions 


Millions 


Millions 


Millions 


Millions 


Thousands 


Thousands 




c 


alendar Year Totals 


























1926 


1 ,254 


38 


25 


135 


15 


766 


45 


17 


75 


203 


100 




1929 


1,049 


39 


29 


136 


12 


1,359 


80 


IS 


82 


381 


137 




1932 


985 


40 


31 


97 


9 


1,115 


47 


12 


40 


31 


64 




1933 


954 


39 


34 


120 


14 


1,119 


43 


11 


81 


19 


55 




1934 


986 


39 


35 


144 


15 


1,206 


64 


13 


85 


32 


67 




1935 


1,075 


35 


35 


121 


15 


1,293 


60 


12 


81 


43 


70 




1936 


1,227 


40 


41 


150 


23 


1,378 


62 


13 


94 


53 


79 




1937 


1,091 


40 


38 


158 


24 


1,503 


81 


15 


117 


76 


89 




12 Months Ending 


























Nov. 1938 


1,135 


37 


42 


139 


15 


1,438 


59 


13 


82 


44 


82 




Monthly Totals 


























1937— June 


111.6 


3.1 


2.8 


13.3 


4.3 


169.2 


8.5 


1.1 


12.6 


7.1 


99 




July 


97.9 


2.9 


3.3 


12.3 


1.2 


179.4 


4.4 


1.1 


12.5 


10.7 


93 




Aug. 


112.4 


3.0 


2.3 


5.2 


1.6 


172.8 


7.9 


1.3 


11.7 


7.4 


90 




Sept. 


152.9 


3.2 


2.7 


4.6 


.9 


171.7 


5.4 


1.4 


8.5 


7.2 


92 




Oct. 


160.8 


4.1 


2.4 


19.1 


1.5 


173.9 


13.4 


1.5 


11.2 


6.7 


108 




Nov. 


122.4 


4.0 


4.6 


23.2 


.9 


175.6 


10.7 


1.6 


13.3 


5.0 


110 




1938— June 


121.6 


4.7 


3.6 


9.5 


.7 


164.0 


7.3 


.9 


5.6 


5.3 


85 




July 


114.9 


2.3 


3.4 


7.6 


1.5 


168.2 


6.0 


1.1 


/ .( 


4.4 


80 




Aug. 


140.1 


2.6 


2.9 


8.3 


.6 


150.4 


4.1 


1.1 


12.0 


3.8 


82 




Sept. 


114.3 


3.1 


2.6 


6.1 


.9 


196.8 


3.1 


1.2 


5.0 


3.7 


82 




Oct. 


148.8 


4.3 


3.2 


17.6 


1.4 


144.7 


7.0 


1.3 


4.6 


2.8 


93 




Nov. 


128.5 


3.4 


3.6 


21.3 


.9 


150.7 


7.0 


1.4 


6.6 


3.2 


91 



(1) Index of Total Import Values divided by D.B.S. Import Price Index. 



IMPORTS AND PRODUCTION OF PETROLEUM AND GASOLINE: 1935-1938 



RATIO SCALE 



ILLIONS OF GALLONS 




\NUARY VKV> 



13 



VIII— EXTERNAL TRADE: VOLUME OF EXPORTS 

Compiled from Trade of Canada, Dominion Bureau of Statistics 





Wheat 
and 
Flour 


Fish 


Bacon 
and 
Hams 


Cheese 


Newsprint 
and 
Wood 
Pulp 


Lumber 


Nickel 


Copper 


Auto- 
mobiles 

and 
Trucks 


Non- 
Monetary 
Gold* 


Index:' 

Volume 

of 

Can. 




Bushels 














Short tons 




Fine ounce 


Exports 




Millions 


Millions 


Millions 


Millions 


Thousands 


Millions 


Thous'ds 


Thous'ds 


Thousands 


Thousands 




Calendar Year Totals 
























1926 


297 


435 


93 


135 


2,738 


2,132 


32 


59 


74 


677 


100 


1929 


254 


417 


29 


93 


3,346 


1,755 


55 


124 


102 


1,742 


100 


1932 


251 


258 


36 


87 


2,229 


674 


16 


133 


13 


2,602 


73 


1933 


217 


303 


73 


74 


2,447 


1,018 


44 


124 


20 


2,771 


78 


1934 


191 


288 


120 


61 


3,020 


1,368 


59 


156 


43 


3,143 


86 


1935 


188 


323 


125 


56 


3,237 


1,337 


71 


199 


64 


3,343 


93 


1936 


265 


321 


158 


82 


3,748 


1,750 


87 


206 


56 


3,771 


112 


1937 


114 


324 


196 


89 


4,326 


1,858 


111 


219 


66 


4,165 


102 


12 Months Ending 
























Nov. 1938 


122 


289 


174 


76 


3,091 


1 ,643 


101 


276 


56 


4,692 


99 


Monthly Totals 
























1937— June 


13.9 


17.8 


20.4 


6.9 


385.0 


182.2 


10.8 


18.6 


6.8 


570 


124 


July 


10.1 


21.5 


14.5 


15.1 


377.3 


171.2 


8.8 


22.0 


8.1 


335 


105 


Aug. 


7.8 


21.0 


16.5 


13.2 


352.8 


170.0 


10.8 


19.9 


8.8 


354 


109 


Sept. 


7.3 


30.1 


10.6 


14.8 


380.4 


223.5 


9.3 


18.5 


4.0 


334 


101 


Oct. 


11.6 


27.9 


12.2 


15.6 


396.5 


149.5 


8.5 


19.4 


4.1 


326 


113 


Nov. 


16.4 


36.8 


16.5 


14.8 


379.7 


148.1 


10.7 


25.2 


3.0 


346 


125 


1938— June 


8.6 


18.6 


12.5 


5.5 


230.2 


166.2 


4.7 


21.2 


5.8 


318 


89 


July 


8.5 


19.6 


12.5 


11.7 


238.2 


165.9 


7.3 


23.7 


4.8 


324 


94 


Aug. 


7.6 


21.7 


10.9 


10.6 


278.0 


147.2 


7.5 


23.2 


3.9 


476 


110 


Sept. 


14.1 


26.4 


10.5 


14.0 


251.4 


139.4 


9.5 


24.9 


3.5 


425 


117 


Oct. 


27.0 


27.7 


11.8 


12.2 


298.2 


144.3 


9.3 


24.3 


2.9 


428 


139 


Nov. 


23.9 


36.0 


16.6 


12.5 


299.7 


156.9 


10.7 


28.6 


2.7 


436 


138 



* Net exports, adjusted for changes in "earmarked'' gold, 
include non-monetary gold. 



(1) Index of Canadian Export Values divided by D.B.S. Export Price Index adjusted to 



AUTOMOBILES AND TRUCKS PRODUCTION, EXPORTS AND IMPORTS ; 1926-38 

THOUSANDS OF UNITS THOUSANDS OF UNITS 




14 



JANUARY 1939 



Millions of Bushels 



IX— CANADIAN WHEAT STATISTICAL POSITION 

Compiled from Grain Trade of Canada and the Monthly Review of the Wheat Situation 







Supplies 


Beginning 


of Period 






Available 
for 


Exports 




CROP YEAR 














End of 
Period 
Stocks 


Beginning 
August 1 


Grain 

in 
Canada 


Grain in 
U.S.A. 
Ports 


Total 
Carry- 
over 


Crop 


Total 
Supplies 


Dis- 
appearance 


Export 
and 

Carry- 
over 


of Wheat 

and 
Flour n) 


1927/28 


51 


5 


56 


480 


535 


120 


415 


324 


91 


1928/29 


78 


14 


91 


567 


658 


132 


525 


398 


127 


1929/30 


104 


23 


127 


305 


432 


112 


320 


193 


127 


1930/31 


111 


16 


127 


421 


547 


139 


408 


269 


139 


1931/32 


133 


6 


139 


321 


460 


117 


343 


207 


136 


1932/33 


130 


6 


136 


443 


579 


99 


480 


263 


218 


1933/34 


210 


8 


218 


282 


500 


104 


395 


193 


203 


1934/35 


193 


10 


203 


276 


479 


101 


378 


164 


214 


1935/36 


202 


12 


214 


282 


496 


122 


374 


247 


127 


1936/37 (2) 


108 


19 


127 


219 


347 


99 


247 


210 


37 


1937/38 (2) 


33 


4 


37 


ISO 


217 


970) 


120 


96 


24 


1938/39 


23 


1 


24 


350 


374 


103 w 


271 






Average of Crop Years 




















1922/23-1926/27 


37 


2 


39 


388 


426 


98 


328 


287 


42 


1927/28-1931/32 


95 


13 


108 


419 


526 


124 


402 


278 


124 


1932/33-1936/37 


169 


11 


180 


300 


480 


105 


375 


215 


160 


1936 Aug.-Dec. 














247 


124™ 




1937 Aug.-Dec. 














120 


5i (s, 




1938 Aug.-Dec. 














271 


83 (S) 





(1) Canadian Customs figures adjusted for changes in Stocks of Canadian wheat in U.S.A. Lake and Seaboard Ports. (2) Revised. (3) Exclusive o! 
consumption of 5.7mm. bushels imported from the United States. (4) Dominion Bureau of Statistics preliminary estimate. (5) Unadjusted Customs 
figures are 132 for 1936, 51 for 1937 and 90 for 1938. 



MILLIONS OF BUSHE 



EXPORTS OF WHEAT AND FLOUR 

Dominion Bureau of Statistics 

MONTHLY TOTALS CUMULATIVE FROM AUG 1 



250 



CUSTOMS 

BOARD OF GRAIN COMMISSIONERS" 




LLIONS OF DOLLARS 

250 



200 



— — l cus 


roMs'" 




AVCRA 


3E 1932-33 TO 1936- 


4 

\^ j4 




,+'' 


4 
4 
4 


> 
/ 
/ 
/ 




1937-38 




1938-39 


1 1 


1 1 1 



150 



100 



50 



(1) Export clearances of Canadian wheat and flour according to customs returns. (2) Flour: as above. Wheal : overseas shipments of Canadian 
wheat from Canadian and United States ports, as compiled by the Canadian Board of Grain Commissioners + United States imports for 
consumption and for milling in bond. t January preliminary. 



lNUARV 1939 



15 



GROSS VALUE OF AGRICULTURAL PRODUCTION 

Dominion Bureau of Statistics 



Millions of Dollars 





Field Crops 


Dairy 
Products 


Farm 
Animal 
Products 


Other 

Agricultural 
Products 






Wheat 


Oats 


Barley 


Other (1) 
Grains 


Other 
Field 
Crops 


Total 
Field 
Crops 


Gross 
Value 




Crop 

mm. lUtshih 


Value 




1920 
1927 

192S 


407 
480 
567 


442 

47S 
451 


184 
226 

211 


52 
64 
76 


50 
57 
55 


377 
348 
332 


1,105 
1,173 
1,125 


277 
295 
298 


178 
184 
198 


155 

174 
185 


1,714 

1,826 
1,806 


1929 
1930 
1931 


305 
421 
321 


320 
205 
124 


168 
103 

78 


61 
27 
17 


53 
35 
21 


348 
292 
196 


949 
662 
436 


292 
237 
191 


207 

167 

97 


183 
169 
116 


1,631 

1,235 

840 


1932 
1933 
1934 


443 
282 
276 


155 
137 
170 


76 

80 

103 


19 
19 
30 


21 
20 
24 


182 
198 
223 


453 
454 
549 


159 
171 

184 


65 
89 
99 


90 

91 

111 


767 
805 
943 


1935 
1936 
1937 
1938 (2) 


282 
219 
180 
350 


173 
205 
182 
205 


93 
116 
115 

90 


24 
50 
42 

28 


23 
30 
29 
24 


198 
211 

187 
182 


512 
612 
556 
529 


193 
211 
228 
230 


120 
131 

141 
137 


127 
125 
128 
130 


952 
1,080 
1,054 
1,026 



(1) Rye, Buckwheat, Mixed Grains and Flaxseed. (2) Preliminary. 



GROSS VALUE OF AGRICULTURAL PRODUCTION 
1926=100 Dominion Bureau of Statistics Indexes 



WHOLESALE PRICES 




CALENDAR YEAR AVERAGES 



9i. 






.MOUTH^ 




JO 




„—- 


^^; 














>^r^ 


•^^.^ 














70 



n 


7 i i i 


i i i 


_L I J 1 




JTMAMJJASONC 
1938 


Y 




— FUL 
MA 


LY & CHIEFL 
NUFACTUREC 


Y A 






1926 27 '28 '29 '30 - 3I '32 '33 '34 '35 '36 '37 '38 1926 '27 '28 '29 '30 '31 '32 '33 '34 '35 '36 '37 '38 



16 



JANUARY 1939 



XI- 



CANADA 

Dominion Bureau oj Statistics 



WHOLESALE PRICE INDEXES 

1926 m 100 

U.K. 

of Traded 

















Products 


Materials 




factures 




Average of Mths. 












1926 


100.0 


100.0 


100.0 


100.0 


100.0 


1929 


100.8 


97.5 


100.0 


93.0 


95.6 


1932 


48.4 


55.0 


61.5 


69.8 


66.7 


1933 


51.0 


56.6 


63.8 


70.2 


67.1 


1934 


59.0 


63.5 


69.7 


73.4 


71.6 


1935 


63.5 


66.0 


70.4 


72.8 


72.1 


1936 


69.4 


70.8 


73.4 


73.6 


74.6 


1937 


87.1 


84.3 


81.2 


80.5 


84.6 


1938 


73.6 


72.8 


77.4 


78.2 


78.6 


Monthly 












1937-Dec. 


84.2 


80.8 


80.2 


80.3 


82.7 


1938-Jan. 


86.3 


82.0 


79.8 


81.6 


83.8 


Feb. 


85.1 


81.1 


80.7 


82.0 


83.6 


Mar. 


83.0 


79.7 


81.2 


82.0 


83.1 


Apr. 


82.5 


79.0 


80.6 


81.3 


82.3 


May 


77.3 


75.8 


78.4 


79.4 


80.3 


June 


76.6 


75.3 


79.2 


79.2 


80.1 


July 


71.5 


72.5 


79.0 


78.4 


78.6 


Aug. 


64.2 


67.5 


75.8 


77.0 


76.0 


Sept. 


63.8 


65.6 


74.3 


75.6 


74.5 


Oct. 


63.8 


65.1 


73.0 


74.8 


74.1 


Nov. 


64.9 


64.6 


72.0 


74.0 


73.5 


Dec. 


64.6 


64.9 


75.0 


73.6 


73.3 



Foods 


Total 


100.0 


100.0 


93.9 


92.1 


71.8 


69.1 


67.8 


69.2 


69.5 


71.1 


70.9 


71.8 


75.1 


76.2 


83.7 


87.8 


79.7 


81.9 


85.4 


86.8 


85.9 


86.9 


84.6 


85.4 


82.4 


84.0 


82.0 


83.2 


82.1 


82.3 


81.3 


81.3 


80.0 


81.2 


77.5 


80.3 


75.2 


79.4 


75.7 


80.0 


74.1 


79.4 


75.1 


79.3 



U.S.A. 

Bureau of Labour 





Raw 








Products 


Materials 


Foods 


factures 




100.0 


100.0 


100.0 


100.0 


100.0 


104.9 


97.5 


99.9 


94.5 


95.3 


48.2 


55.1 


61.0 


70.3 


64.8 


51.4 


56.5 


00.5 


70.5 


65.9 


65.3 


68.6 


70.5 


78.2 


74.9 


78.8 


77.1 


83.7 


82.2 


80.0 


80.9 


79.9 


82.1 


82.0 


80.8 


86.4 


84.8 


85.5 


87.2 


86.3 


68.6 


72.0 


73.6 


82.2 


78.6 


72.8 


75.4 


79.8 


85.3 


81.7 


71.6 


74.9 


76.3 


84.3 


80.9 


69.8 


73.6 


73.5 


83.3 


79.8 


70.3 


73.2 


73.5 


83.4 


79.7 


68.4 


71.3 


72.3 


82.7 


78.7 


67.5 


70.7 


72.1 


82.1 


78.1 


68.7 


71.4 


73.1 


82.2 


78.3 


69.4 


72.3 


74.3 


82.5 


78.8 


67.3 


71.4 


73.0 


81.8 


78.1 


68.3 


72.0 


74.5 


81.8 


78.3 


66.8 


70.9 


73.5 


81.1 


77.6 


67.8 


71.5 


74.1 


80.5 


77.5 


67.6 


70.9 


73.1 


80.2 


77.0 



t Wheat is included at the open market price or the Wheat Board's minimum buying price, whichever is the higher. (1) Adjusted to 1926 = 100 from 
base 1913 — 100 in 1926-29 and from base 1930= 100 in 1930 and thereafter. (2) Bureau of Labour Index of Prices of Finished Products. 



WHOLESALE PRICE INDEXES : IRON AND STEEL: CANADA. U.K. AND U.S.A. : 1936-38 

1926 = 100 1926 = 100 

130 




JN'UARY 1939 



17 



XII— U.S.A. STATISTICS 

Federal Reserve Board or Dept. of Commerce statistics unless otherwise stated 



ALL MEMBER BANKS 



TOTAL RESERVE BALANCES 



I 




SECURITY MARKET 
- 






COMMON STOCK PRICE INDEX A/ 






— 


"mo°"°„"";£'o" ,«."£" / 








Kf 










I k 


S TREASURY 3 


%. 1951-55 










f CORPORATE ISSUES FOR 
V / NEW CAPITAL 








V 'ZXSESlZSFS&SZSSi. 








r A 


\ 


A 






V 





400 



1935 1936 



1937 1936 




BRUARV 1939 



200 



150 



100 




18 



BANK OF CANADA 

SOURCES AND DISTRIBUTION OF CASH 

MONTHLY AVERAGE OF WEDNESDAY FIGURES 



,..• NOTES HELD BY CHARTERED BANKS /j&K 



■■■::■;■:• 




: : : : ; : :-:-»»x : : : ; : :-:»: : : : > 
/>:■:■:■:■:■:■:■:■:•.•.«:■.■:■,■.'.■.'. 



■'.■.<■:■:■:■'.•:■:■:■:•:■:■:•'■ 



CHARTERED BANK DEPOSITS 
WITH BANK OF CANADA 






o^m 



Millions of Dollars 

450 



A S O N D J 



A M J J A S O 

1938 




19 



Millions of Dollars 



FEBRUARY 1939 
I— BAI 





LIABILITIES 




Chartered Bank Cash 


Govt. 
Deposits 


Other 
Deposits 


Active 

B. of C. 

Note 

Circulation 


All 
Other 

Accounts 


Tota 

Asset 

or 

Liabili 

294. 




Notes 
in Tills 


Deposits 

at 
B. of C. 


Total 


Average of 
Wednesday Figures 

1935- 9 Mths. 


37.2 


176.5 


213.7 


23.9 


.7 


48.9 


6.8 


1936-12 Mths. 


40.4 


184.7 


225.1 


22.5 


1.0 


64.0 


9.4 


322. 


1937-12 Mths. 


49.8 


191.4 


241.2 


25.8 


1.2 


90.6 


13.5 


372. 


1938-12 Mths. 


56.0 


L99.6 


255.6 


22.8 


2.1 


105.0 


12.5 


399.1 


1938— Jan. 


59.9 


194.7 


254.6 


15.7 


2.9 


99.7 


13.9 


386. 


Feb. 


51.6 


193.7 


245.3 


21.6 


2.4 


98.6 


13.3 


381. 


Mar. 


49.6 


193.2 


242.8 


23.4 


2.6 


100.0 


13.6 


382. 


Apr. 


52.8 


190.7 


243.5 


20.3 


2.7 


101.9 


13.8 


382. 


May 


54.9 


193.3 


248.2 


16.4 


2.8 


102.1 


14.4 


383, 


June 


53.0 


190.8 


243.8 


42.4 


2.1 


101.4 


15.1 


404. 


July 


55.1 


192.6 


247.7 


16.0 


2.0 


101.3 


13.7 


380. 


Aug. 


55.4 


199.8 


255.2 


13.3 


1.6 


104.3 


12.9 


387. 


Sept. 


60.2 


205.5 


265.7 


21.4 


1.0 


111.5 


9.3 


408. 


Oct. 


62.0 


216.2 


278.2 


28.6 


1.4 


118.4 


9.5 


436. 


Nov. 


58.3 


219.9 


278.2 


26.6 


1.5 


116.4 


10.5 


433. 


Dec. 


59.6 


204.6 


264.2 


28.4 


2.3 


115.6 


10.1 


420. 


1939— Jan. 


61.1 


210.4 


271.5 


23.6 


3.3 


107.5 


10.1 


416. 


Wednesdays 

Feb. 1 


54.0 (2) 


205.3 


259.3 (2) 


33.3 


3.4 


107.5 (2) 


11.4 


414 


8 


54.9 (2> 


204.0 


258.9 (2) 


33.4 


2.9 


104.7 (2) , 


9.7 


409 


15 


54.7 <2) 


206.7 


261.4 2 ' 


33.4 


3.7 


103. 7 (2 


12.2 


414 


22 


55.7 (2) 


212.0 


267.7 <2) 


27.1 


2.5 


102.2 <2) 


8.3 


407 



(1) Includes "Otlier Securities' 



CHARTERED BANKS: CASH IN CANADA*: 1926-39 



MILLIONS OF DOLLARS 

300 



LLIONS or DOLLARS 

300 




El 


JRUARY 1939 


















:nada 
















Millions of Dollars 


ASSETS 




Reserve 


Securities 




All 

Other 

Accounts 






Silver 


Foreign 
Currencies 


Total 
Reserve 


Reserve 
Ratio 


Dom.-Prov. 

Short 


Dom.-Prov. 
Long 


Total'" 


Advances 
























Average of 
Wednesday Figures 


| 


1.4 


10.3 


166.2 


57.87 


25.6 


94.0 


119.6 


4.1 


4.0 


1935- 9 Mths 




1.8 


11.4 


192.9 


61.69 


37.0 


86.3 


123.2 


1.7 


4.2 


1936-12 Mths 




2.5 


20.4 


204.8 


57.11 


57.9 


98.4 


162.2 


- 


5.1 


1937-12 Mths 




.9 


28.7 


210.6 


54.50 


122.5 


53.0 


181.2 


.9 


6.3 


1938-12 Mths 




3.0 


16.3 


199.0 


53.38 


77.5 


91.2 


180.9 


1.3 


5.6 


Jan. — 1938 




3.0 


20.3 


203.4 


55.26 


72.7 


88.2 


173.1 


- 


4.8 


Feb. 


' 


3.0 


22.3 


205.5 


55.72 


119.3 


41.5 


173.1 


- 


3.8 


Mar. 




1.8 


21.5 


204.0 


55.37 


116.3 


41.5 


170.1 


2.8 


5.4 


Apr. 


; 


.4 


24.4 


206.1 


55.78 


120.7 


39.0 


170.9 


- 


7.0 


May 


1 


- 


37.7 


219.6 


56.34 


113.3 


51.9 


171.3 


- 


14.0 


June 


; 


- 


26.5 


207.3 


56.48 


114.5 


52.5 


167.8 


- 


5.6 


July 


, 


- 


26.0 


206.5 


55.17 


121.3 


52.5 


173.8 


- 


6.9 


Aug. 


» 


- 


32.9 


214.4 


53.65 


139.8 


48.9 


188.7 


- 


5.8 


Sept. 


[ 


- 


36.2 


217.6 


51.02 


161.9 


46.1 


208.0 


4.8 


5.6 


Oct. 


» 


- 


39.8 


220.9 


52.27 


162.2 


42.5 


204.7 


2.0 


5.6 


Nov. 


[ 


- 


40.9 


223.3 


54.40 


151.0 


40.5 


191.4 


- 


5.9 


Dec. 


1 


- 


31.1 


219.5 


54.09 


140.1 


1 1 .6 


181.7 


- 


14.7 


Jan.— 193'.) 


) 


- 


44.1 


236.0 


58.48 


130.2 


42.1 


172.2 


- 


6.7 


Feb. 1 


) 


- 


43.5 


237.5 


59.40 


128.1 


38.5 


166.6 


- 


5.4 


8 


• 


- 


42.0 


237.8 


59.11 


128.6 


38.5 


167.1 


- 


9.6 


15 


t 


- 


38.9 


235.8 


59.03 


128.5 


37.3 


165.8 


- 


6.2 


2'' 



20 



ACTIVE NOTE CIRCULATION*: 1926-39 



MILLIONS Or DOLLARS 



MILLIONS OF DOLLARS 




1926 1927 1928 1929 1930 1931 1932 T933 1934 

'Active Bank of Canada or Dominion and total Chartered Bank note circulation. 



21 





















FEBRUARY 1939 




















II— CHAP 


Millions of Dollars 




















Boi 










LIABILITIES 














Notes 


Deposits 


Cash 
in 


Securities 














Total 


DOM. -PROV. 








Demand 




and Prov. 


Deposits' 


Foreign 


Deposits (2) 


Canada <3) 




(ii 




Short 1 Long 


\\ cl.ii'c nl 




















Month-end Figures 






















1926 


169 


553 


1,341 


53 


1,958 


330 


2,333 


197 


344 


1 


1929 


178 


696 


1,480 


102 


2,293 


418 


2,837 


212 


342 


1 


1932 


132 


486 


1,376 


82 


1,955 


312 


2,322 


186 


490 


" 


1933 


130 


489 


1,379 


62 


1,941 


308 


2,290 


195 


627 


'1 


1934 


136 


514 


1,373 


66 


1,966 


322 


2,317 


203 


684 


1 


1935 


126 


569 


1,445 


65 


2,104 


348 


2,476 


216 


407 


454 


1 


1936 


119 


618 


1,518 


77 


2,245 


401 


2,668 


225 


447 


628 


?. 


1937 


110 


691 


1,574 


90 


2,382 


421 


2,840 


240 


445 


674 


3 


1938 


100 


690 


1,630 


94 


2,449 


408 


2,892 


252 


447 


696 


2 


End of 
























1938— Jan. 


98 


640 


1,591 


84 


2,360 


399 


2,783 


251 


447 


690 


2 


Feb. 


102 


634 


1,615 


70 


2,361 


393 


2,783 


236 


444 


696 


3 


Mar. 


100 


648 


1,623 


67 


2,379 


399 


2,808 


242 


459 


685 


2 


Apr. 


100 


687 


1,631 


96 


2,445 


398 


2,884 


243 


461 


694 


3 


May 


97 


670 


1,625 


107 


2,438 


404 


2,880 


241 


448 


700 




June 


104 


690 


1,621 


148 


2,484 


410 


2,939 


242 


437 


719 


; 


July 


101 


671 


1 ,623 


101 


2,445 


397 


2,862 


235 


422 


717 




Aug. 


99 


687 


1,635 


96 


2,460 


400 


2,878 


257 


435 


710 


2 


Sept. 


104 


725 


1 ,633 


89 


2,492 


425 


2,937 


264 


445 


684 


2 


Oct. 


101 


749 


1 ,656 


75 


2,518 


419 


2,961 


286 


451 


669 


2 


Nov. 


97 


750 


1 ,655 


94 


2,506 


436 


3,004 


271 


44<S 


693 


2 


Dec. 


95 


734 


1,660 


106 


2,498 


420 


2,986 


257 


469 


693 


•' 


1939— Jan. 


90 


700 


1 ,667 


90 


2,501 


430 


2,954 


269 


464 


697 





ifter that date: Bank of Canada Notes and Deposits. 



CHARTERED BANKS = CANADIAN DEPOSITS: 1926-39 



ILLIONS OF DOLLARS 



ILLIONS OF DOLLARS 



2500 



2300 



2100 



1900 




2500 



2300 



2100 



1900 



1926 1927 1928 1929 1930 1931 1932 1933 

< hi month-end figures January 1926 to February 1935; therea 



1934 1935 1936 1937 

monthly average of daily figures. 



EBKUARY 1939 



22 



] BANKS 



Millions of Dollars 



140 
267 
117 
102 

102 
82 
93 

107 



Loans 



034 
1 ,343 
1,032 

907 

809 
829 
699 
732 

786 

731 
737 

752 
770 
769 
786 
786 
781 
829 
848 
837 
S06 

792 



87 
112 
165 
147 

145 
134 
121 
117 
129 

107 
114 
118 
136 
130 
135 
134 
132 
136 
137 
133 
134 

127 



250 

301 

84 

92 

107 
72 
64 
68 
51 

51 
51 
51 
50 
58 
53 
53 
55 



261 
248 
172 
148 

138 
146 
150 
165 

158 

168 
169 
169 
160 
162 
1S1 
152 
144 
143 
142 
148 
152 

14S 



Total 

Assets 



2,864 
3,528 
2,869 
2,831 

2,838 
2,957 
3,145 
3,317 
3,349 

3,239 
3,245 
3,266 
3,337 
3,332 
3,399 
3,322 
3,334 
3,400 
3,424 
3,455 
3,431 

3,396 



DAILY AVERAGE DATA 




Cash 




Ratio of 


Total 




Canadian 


Cash to 


Active 




Canada' 3 ' 


Deposits' 4 ' 


Deposits in 


Note 






Canada 


Circulation' 5 ' 












Average ot 
Daily Figures 


192 


1,958 


9.8 


195 


1926 


191 


2,293 


8.3 


205 


1929 


172 


1,955 


8.8 


158 


1932 


189 


1,941 


9.8 


157 


1933 


201 


1,966 


10.2 


163 


1934 


213 


2,108 


10.1 


169 


1935 


225 


2,213 


10.2 


182 


1936 


240 


2,357 


10.2 


200 


1937 


254 


2,412 


10.5 


205 


1938 


253 


2,337 


10.8 


195 


Jan.— 1938 


245 


2,325 


10.5 


196 


Feb. 


242 


2,331 


10.4 


199 


Mar. 


240 


2,382 


10.1 


203 


Apr. 


247 


2,401 


10.3 


199 


May 


243 


2,421 


10.0 


200 


June 


245 


2,444 


10.0 


201 


July 


254 


2,426 


10.5 


201 


Aug. 


263 


2,442 


10.8 


214 


Sept. 


277 


2,474 


11.2 


220 


Oct. 


279 


2,487 


11.2 


214 


Nov. 


261 


2,473 


10.6 


216 


Dec. 


269 


2,473 


10.9 


195 


Jan.— 1939 



:ures given are annual averages of estimated month-end Canadian deposits in 1926-35 and 
artered Bank note circulation and Bank of Canada notes in public circulation. 



Dnthly average Canadian deposits in 1936 and after. 



MILLIONS OF DOLLARS 

5500 



4500 



BANK DEBITS : 1926-39 

TOTAL AT 32 CLEARING HOUSE CENTRES 



LLIONS OF DOLLARS 

5500 



4500 



3500 



2500 




3500 



2500 



1926 1927 1928 1929 1930 1931 1932 1933 1934 1935 



1936 1937 1938 1939 1940 



23 



FEBRUARY 1939 



III 



Millions of Dollars 



BOND ISSUES AND RETIREMENTS' 

Bank of Canada 



PAR VALUES 





I Dominion* 2 * Direct & Guaranteed and Other C.N.R.o' 




II~Provincial' 2 »Direct & Guaranteed"' 


Quarter 


Sales 


Deliv 


ER1ES 


Retirements 


Net De- 
liveries 
or Retire- 
ments 


Sales 


Deli\ 


ERIES 


Retirements 


Net De- 
liveries 




New 


Refunding 


New 


Refunding 


Refunded 


Other 


New 


Refunding 


New 


Refunding 


Refunded 


Other 


or Retire- 

merit t 


1936 






























i 


82.6 


85.4 


82.6 


85.4 


85.4 


1.8 


80.8 




L6.2 


.7 


10.2 


7 


.7 


16.7 


.5 


ii 


20.0 


114.7 


20.0 


114.7 


114.7 


3.9 


16.1 




17.:i 


4.0 


17.3 


4.0 


4.0 


25.8 


8.5 


iii 


26.8 


73.2 


20. S 


73.2 


15.0 


33.2 


51.8 




1.2 


- 


1.2 


- 


- 


12.3 


11.2 


iv 


- 


- 


- 


- 


58.2 


4.4 


62.6 




48.9 


34.4 


46.8 


31.3 


11.3 


5.9 


60.9 


Total 


129.4 


273.3 


129.4 


273.3 


273.3 


43.3 


86.1 


83.5 


39.1 


81.4 


36.0 


16.0 


60.7 


40.7 


1937 






























i 


35.5 


85.0 


35.5 


85.0 


85.0 


6.9 


28.6 




14.5 


34.2 


15.2 


19. (i 


39.6 


4.3 


9.1 


ii 


- 


113.5 


- 


113.5 


113.5 


4.4 


4.4 




25.0 


7.7 


2.0 


is. 7 


39.3 


5.5 


24.1 


iii 


14.3 


- 


14.3 


- 


- 


3.3 


11.0 




8.0 


20.0 


32.4 


26.6 


6.0 


8.0 


45.1 


iv 


- 


100.0 


- 


100.0 


100.0 


24.3 


24.3 




50.2 


12.4 


50.2 


12.4 


11.5 


3.9 


47.3 


Total 


49.8 


298.5 


49.8 


298.5 


298.5 


38.9 


10.9 


97.8 


74.2 


99.9 


77.3 


96.4 


21.7 


59.1 


1938 






























i 


50.0 


48. 7 


50.0 


- 


- 


1.8 


48.2 




16.8 


12.0 


L6.8 


12.0 


13.5 


15.9 


.0 


ii 


50.0 


89.8 


50.0 


89.8 


89.8 


2^.4 


24.6 




1.2 


l.:> 


4.2 


- 




5.7 


1.5 


iii 


3.0 


- 


3.6 


IN. 7 


48.7 


8.5 


4.9 




14.7 


2.0 


14.7 


3. 5 


3.5 


9.1 


5.7 


iv 


4.0 


40.0 


4.0 


40.0 


40.0* 


1.6 


2.4* 




50.0 


17.9 


50.0 


17.9 


17.9 


1.5 


48.4 


Total 


107.6 


178.5 


107.6 


178.5 


178.5* 


37.3 


70.3* 


85.7 


34.0 


85.7 


34.0 


34.9 


32.1 


52.7 





III Corporations 


Quarter 


Sales 


Deliveries 


Retirements^' 


Net De- 
liveries 
or Retire- 
ments 




New 


Refunding 


New 


Refunding 


Refunded 


Other 


1936 
















i 


72.8 ( " 


59.1 


32. ( " 


35.7 


18.1 


10.5 


39.0 


ii 


3.1 


49.3 


43.5 (7) 


71.8 


41.3 


20.0 


53.9 


iii 


5.6 


41.7 


3.8 


12.7 


59.9 


5.1 


48.5 


iv 


7.9 


33.5 


8.1 


55.1 


42.7 


13.3 


7.2 


Total 


89.4 


183.7 


87.4 


175.2 


162.0 


48.9 


51.7 


1937 
















i 


27.8 


33.5 


29.4 


27.9 


39.6 


11.7 


5.9 


ii 


20.0 


8.1 


19.0 


15.5 


13.9 


19.2 


2.0 


iii 


3.3 


18.3 


4.2 


24.9 


23.0 


17.5 


11.4 


iv 


7.2 


2.3 


7.2 


2.3 


7.3 


8.3 


6.1 


Total 


58.3 


62.2 


60.3 


70.6 


81.8 


56.7 


9.6 


1938 
















i 


1.1 


.7 


1.0 


- 


- 


1 0.0 


9.0 


ii 


10.9 


13.3 


16.3 


L3.8 


.8 


7.1 


22.2 


iii 


5.4 


15.0 


5.1 


15.2 


14.6 


6.3 


.6 


iv 


8.0 


1.9 


8.1 


1.8 


15.5 


11.4 


16.9 


Total 


31.3 


31.0 


30.5 


30.8 


30.8 


34.8 


4.4 



*, (1), (2) and (4) — See corresponding notes on opposite page. (3) C.N.R. bonds | 
months Bills, payable in Canada only. (6) It was impossible to classify issues of m 
and $3.7 mm. in 1938 between new and refunding. In each quarter such issue- have 
Bi ■ an ii c.l l.ii-l. ,,i nih. inn data no tabulation oi retirements by municipalities and i 

D i r m .ii guaranteed bank loans. $12 mm. was delivered in the first quart 

December, 1935, including $2.7 mm. payable in New York. 



[+11 + III 



Net Deliveries 

or 
Retirements 



119.3 

61.5 

7.8 

5.5 

178.5 



25.4 
26.6 
44.7 
16.8 



60.3 

39.3 
45.3 
.1 
33.9* 



118.6* 



IV Dominion 
Treasury Bills' 5 ' 


Net De- 
liveries or 
Reri're- 
ments 


Total 

outstanding 

at end of 

quarter 


27.3 
30.0 


92. 7 <8 ' 

120 

120 

120 

150 


57.3 




15.0 
15.0 


150 
135 
L50 

150 






10.0 

5.0 


150 
100 
155 
155 


5.0 





Municipalities 
and Religious 
Institutions 


Sales' 6 * 


New 


Refunding 


9.1 


13.9 


9.7 


4.2 


3.1 


3.0 


3.1 


1.8 


25.1 


22.9 


11.1 


28.3 


0.1 


2.9 


4.8 


.2 


5.2 


3.9 


27.1 


35.4 


'.).l 


3.0 


3.0 


1.5 


9.7 


.9 


8.7 


1.2 


31.1 


6.6 



ited under the heading "Other C.N.R." (5) Three 
utions totalling $4.1 mm. in 1936, $2.5 mm. in 1937 
same proportions as the known issues in t lie quarter. 
e. (7) Includes $48 mm. of C.P.R. bonds issued to 
uarter of 1936. (8) Total outstanding as at 31st of 



feBRUARY 1939 



24 



Millions of Dollars 



SUMMARY OF CHANGES IN CURRENCY OF PAYMENT" 

DOMINION 2 ' AND PROVINCIAL 2 ' DIRECT AND GUARANTEED, OTHER C.N.R., 
AND CORPORATION BONDS 3 ' 



DELIVERIES were payable in: 



RETIREMENTS^ were payable in: 



New York Canada & 



Net Increase or 
Net Decrease 



Payable 

n Canada ^ yah \l 
only Abroadt 



Par Values 



1936 




























i 


155.1 


90.0 


1.5 


- 


252.6 


27.0 


86.4 


7.7 


9.3 


2.9 


133.3 


128.1 


8.8 


ii 


238.3 


30.0 


1.5 


1.4 


271.2 


141.0 


4.5 


15.6 


44.8 


3.9 


209.8 


97.4 


35.9 


iii 


117.6 


- 


- 


- 


117.6 


32.9 


61.9 


4.9 


17.4 


8.4 


125.4 


84.8 


92.5 


iv 


141.3 


- 


- 


- 


141.3 


79.2 


6.1 


5.1 


43.1 


2.3 


135.8 


62.1 


56.6 


Total 


652.3 


126.0 


3.0 


1.4 


782.7 


280.1 


158.8 


33.3 


114.6 


17.5 


604.3 


372.3 


193.8 


1937 




























i 


113.2 


93.0 


- 


6.3 


212.5 


38.8 


.3 


108.7 


31.0 


8.3 


187.1 


74.4 


49.0 


ii 


168.0 


.8 


.5 


- 


169.3 


152.9 


12.6 


6.2 


15.2 


9.0 


195.9 


15.1 


41.7 


iii 


95.2 


- 


3.3 


4.0 


102.5 


19.8 


9.4 


10.2 


6.2 


12.2 


57.8 


75.4 


30.7 


iv 


160.8 


- 


6.5 


4.9 


172.1 


144.8 


1.8 


2.3 


2.8 


3.6 


155.3 


16.0 


.8 


Total 


537.2 


93.8 


10.3 


15.2 


656.4 


356.3 


24.1 


127.4 


55.2 


33.1 


596.1 


180.9 


120.6 


1938 




























i 


80.4 


- 


- 


- 


80.4 


34.1 


2.9 


.7 


1.9 


1.5 


41.1 


46.3 


7.0 


ii 


171.4 


.3 


- 


2.4 


174.1 


109.8 


3.6 


4.0 


2.2 


9.2 


128.8 


61.6 


16.3 


iii 


41.9 


- 


2 


48.7 


90.7 


17.3 


1.7 


15.5 


1.3 


54.9 


90.6 


24.7 


24.5 


iv 


81.8 


40.0 


- 


- 


121.8 


26.7 


41.0* 


1.4 


17.2 


1.6 


88.0* 


55.1 


21.2* 


Total 


375.5 


40.3 


.2 


51.1 


467.1 


187.8 


49.2* 


21.6 


22.7 


67.2 


348.5* 


187.7 


69.1* 













Net Cash Involved* 














1936 




























i 


152.8 


93.9 


1.5 


- 


248.2 


27.1 


86.4 


7.7 


9.6 


3.1 


133.9 


125.7 


11.4 


ii 


235.8 


30.0 


1.5 


1.4 


268.7 


141.7 


4.5 


15.6 


46.7 


4.0 


212.5 


94.1 


37.9 


iii 


115.2 


- 


- 


- 


115.2 


33.0 


63.5 


4.9 


18.0 


8.4 


127.8 


82.2 


94.8 


iv 


140.9 


- 


- 


- 


140.9 


79.2 


6.1 


5.1 


45.1 


2.3 


137.9 


61.6 


58.7 


Total 


644.7 


123.9 


3.0 


1.4 


773.0 


281.1 


160.4 


33.4 


119.4 


17.8 


612.1 


363.6 


202.7 


1937 




























i 


112.5 


91.8 


- 


6.3 


210.6 


38.9 


.3 


108.8 


32.5 


8.3 


188.9 


73.6 


51.9 


ii 


166.5 


.8 


.5 


- 


167.8 


155.5 


12.7 


6.2 


15.6 


9.0 


199.1 


11.0 


42.3 


iii 


94.1 


- 


3.3 


3.7 


101.1 


19.9 


9.8 


10.5 


6.3 


12.4 


58.9 


74.2 


32.0 


iv 


158.9 


- 


6.5 


4.8 


170.1 


145.0 


1.8 


2.4 


2.8 


3.6 


155.6 


13.9 


.7 


Total 


532.0 


92.5 


10.2 


14.8 


649.7 


359.3 


24.7 


127.9 


57.2 


33.3 


602.5 


172.7 


125.5 


1938 




























i 


79.1 


- 


- 


- 


79.1 


34.1 


2.9 


.7 


1.9 


1.5 


41.1 


45.1 


7.0 


ii 


169.5 


.3 


- 


2.4 


172.1 


110.3 


3.6 


4.0 


2.2 


9.2 


129.3 


59.2 


16.4 


iii 


41.5 


- 


2 


47.9 


89.6 


17.1 


1.7 


15.6 


1.3 


54.9 


90.7 


24.4 


25.4 


iv 


81.2 


38.9 


- 


- 


120.1 


26.7 


41.0* 


1.4 


17.7 


1.6 


88.4* 


54.5 


22.8* 


Total 


371.4 


39.2 


.2 


50.3 


461.0 


188.2 


49.2* 


21.7 


23.2 


67.2 


349.5* 


183.2 


71.7* 



* The S40 mm. Dominion issue due in New York on 1st Jan.. 1939, which was refunded in New York in November, 1938, is for the purposes of this table taken as 
maturing in the last quarter of 1938. | Only or optionally. (1) Subject to revision. (2) Treasury Bills are excluded. For particulars of Dominion Treasury Bills see 
Heading IV, page 23. (3) Issues of municipalities and religious institutions are not included in this tabulation owing to lack of sufficient information. (4) Includes 
retirements through sinking fund purchases. In many cases available data did not permit more than arbitrary approximations for separate portions of the fiscal year. 
(5) Including issues payable optionally in Canada or London. (,6) Issues are included at the price to the public. Retirements are included at the redemption price. 



25 



FEBRUARY 1939 



IV— SECURITY PRICES 

Bank of Canada 



Average of 


Government Bonds 

Middle Prices and Yields 


Treasury Bills 

Three Months 

Average Yield of Successful 
Tender s a) 


Working Days 


Canada* t 


U. K.*t<» 


U.S.A.* t 


Canada 


U.K. 


U.S.A. 




Price 


Yield 


Price 


Yield 


Price 


Yield 


1936 
1937 
1938 


105.67 
103.37 
105.53 


3.18 
3.34 
3.10 


106.48 
101.15 
100.84 


3.06 
3.42 
3.42 


103.45 
102.61 
104.70 


2.67 
2.73 

2.54 


.843 
.719 
.590 


.595 
.547 
.614 


.131 (i) 
.509' 3) 
.055 


1938— Jan. 
Feb. 
Mar. 


104.34 
104.80 
105.20 


3.23 
3.18 
3.14 


102.12 
102.68 
100.93 


3.35 
3.31 
3.42 


103.33 
103.43 
103.57 


2.66 
2.65 
2.64 


.726 
.648 
.524 


.500 
.504 
.506 


.111 

.078 
.070 


Apr. 
May 
June 


105.85 
106.38 
106.19 


3.09 
3.03 
3.04 


101.44 
101.48 
101.68 


3.39 
3.39 
3.37 


103.68 
105.04 
105.15 


2.63 
2.52 
2.51 


.503 
.471 
.465 


.512 
.504 

.574 


.061 
.027 
.016 


July 
Aug. 
Sept. 


105.80 
105.83 
104.48 


3.07 
3.07 
3.19 


102.52 

102.06 

98.45 


3.31 
3.35 
3.56 


105.24 
105.51 
104.53 


2.50 
2.48 
2.55 


.489 
.519 
.608 


.522 
.506 
.945 


.054 
.047 
.106 


Oct. 
Nov. 
Dec. 


105.31 
106.14 
106.08 


3.11 
3.03 
3.03 


99.50 
99.30 
97.90 


3.52 
3.53 
3.58 


105.71 

105.46 
105.71 


2.46 

2.48 
2.45 


.747 
.693 
.672 


.773 

.526 

1.003 


.018 
.027 
.013 


1939— Jan. 
Feb. (6) 


105.94 
105.99 


3.04 
3.03 


96.92 
96.77 


3.61 

3.62 


106. 10 
106.47 


2.42 
2.38 


.690 

.681 


.534 

.503 


Nil 
.005 



* Average of two long term issues for each country, t Differing coupon rates and maturity provisions, and the fact that the U. S. Treasury issues are 
exempt from "normal" income tax, vitiate any direct comparison of absolute yield levels. (1) United Kingdom issues are quoted in London to 
include accrued interest but are given here excluding interest. (2) On (or nearest to) 15th of each month. (3) 9 months. (4) Average Feb. 1 - 23 for 
Bond Prices & Yields. 




t February 23, 1939. * U.K. prices pegged Sept. 26-28 inclusive 



iRUARY 1939 



20 



V— INDUSTRIAL ACTIVITY 

Dominion Bureau of Statistics 





Physical 

Volume of 

Business 

Index 

Seasonally 
adjusted 

1926 = 100 


PRODUCTION 


Con- 
struction 
Contracts 
Awarded 


Car 
Loadings 


Employ- 




Gold 


Nickel 


Steel 


Auto- 
mobiles 
& Trucks 


News- 
print 


Central 
Electric 
Stations 


Index'" 

Seasonally 
adjusted 

1926 = 100 




Thousands 
Fine Ounces 


Thousands 
Short Tons 


Thousands 
Long Tons 


Thousands 


Thousands 
Short Tons 


Millions 
Kilowatt Mrs. 


Millions 
of Dollars 


Thousands 


Annual Totals") 






















1926 


100.0 


1,754 


33.0 


776 


205.0 


1,889 


11,920 


372.9 


3,253 


100.0 


1927 


106.1 


1,853 


33.0 


90S 


178.8 


2,083 


14,231 


419.0 


3,397 


104.0 


192X 


117.3 


1,891 


48.4 


1,235 


241.4 


2,414 


15,931 


472.0 


3,690 


111.0 


1929 


125.5 


1 ,928 


55.1 


1 ,378 


202.0 


2,725 


17,033 


576.7 


3,524 


119.2 


1930 


109.5 


2,102 


51.9 


1,010 


153.4 


2,498 


17,803 


457.0 


3,144 


113.4 


1931 


93.5 


2,694 


32.8 


072 


82.6 


2,227 


16,383 


315.5 


2,575 


102.5 


1932 


78.7 


3,044 


15.2 


339 


00.8 


1,919 


15,803 


132.9 


2,176 


86.4 


1933 


79.7 


2,949 


41.6 


410 


05.9 


2,022 


17,553 


97.3 


2,032 


84.2 


1934 


94.2 


2,972 


64.3 


758 


116.9 


2,005 


21,100 


125.X 


2,321 


90.4 


1935 


102.4 


3.2S5 


69.3 


942 


172.9 


2,705 


23,404 


100.3 


2,358 


99.X 


1936 


112.2 


3,748 


84. 9 


1,116 


102.2 


3,225 


25,394 


102.6 


2,494 


104.0 


1937 


122.7 


4,096 


112.5 


1 ,403 


207.5 


3,674 


27,584 


224.1 


2,035 


114.1 


1938 


112.9 


4,71(5 


105.1 


1,150 


100.1 


2,625 


25,994 


187.3 


2,429 


111.4 


Monthly Total? 






















1937-Nov. 


127.9 


353.3 


9.9 


110.7 


16.6 


302.2 


2,415 


14.7 


235.1 


118.X 


Dec. 


121.4 


302.2 


9.9 


9S.3 


21.1 


293.0 


2,45,X 


10.X 


204.2 


117.X 


L938-Jan. 


111.8 


361.1 


10.1 


112.4 


17.0 


222.5 


2,2X1 


9.1 


187.4 


114.7 


1938-Nov. 


123.4 


410.0 


8.8 


90.1 


18.0 


245.3 


2,370 


15.0 


219.2 


111.3 


Dec. 


115.6 


433.9 


8.3 


78.6 


18.7 


209. S 


2,350 


10.5 


178.4 


112.3 


1939-Jan. 


113.0 






7S.2 


14.S 


20X.4 


2,387 


7.3 


171.4 


110.0 



(t) As at end of month. (2) Average of months in case of Physical Volume of Business and Employment Indexes. 



IDS : CANADA, U.K. & U.S.A. : 1936-39 





U S. TREASURY 

AVERAGE YIELDS Or 
3% DUC 15 SEPT 1951-55 
2W. DUE .5 MAR. 1955-60 . 


^-m /^ A ~"-^v *"* 


_-'V"~ 


/-*"* 




\'i/ 




vk/ /~*_A./' v/ ' 




AVERAGE YIELDS Or 
3 ■>/. DUE 1 JUNE . 1950-55 


*\v*"*L^A>-' T 


















UNITED 

AVERAGE 
3H% 'CONVERSION D 
3l4%-WAR LOAN DUE 


KINGDOM -""^ \\ \ 

IELDS or 1/ 
UE 1 APR.I96I anoai-,0, 
1 DEC-. 1952 «"» •"« 




V \/^T 


-III 


1 1 1 1 1 


1 1 


• 


1 



27 



1'EBKUAKY 1939 



VI— WHOLESALE PRICE INDEXES 



1926 = 100 



CANADA 

Dominion Bureau of Statistics 





Farmt 
Products 


Raw 
Materials 


Foods 


Manu 
factures 


Total 


\\ erageol Mths. 












L926 


!()().() 


100.0 


100.0 


100.0 


100.0 


L927 


102.1 


99.9 


99.1 


90.5 


97.7 


L928 


100.7 


97.4 


99.6 


95.0 


96.4 


L929 


100.8 


97.5 


100.0 


93.0 


95.6 


1930 


82.3 


S2.2 


93.1 


87.3 


86.6 


i 'j;; i 


56.3 


01.9 


70.4 


74.8 


72.1 


L932 


IN.1 


55.0 


01.5 


09.8 


66.7 


L933 


51.0 


50.0 


03. S 


70.2 


67.1 


1934 


59.0 


03.5 


09.7 


73.4 


71.6 


1935 


63.5 


00.0 


70.4 


72.8 


72.1 


1936 


69.4 


70.8 


73.4 


73.0 


74.6 


1937 


S7.0 


S4.2 


81.2 


80.4 


84.5 


193S 


73.6 


72.8 


77.4 


78.2 


78.6 


Monthly 












1938-June 


76.6 


75.3 


79.2 


79.2 


80.1 


July 


71.5 


72.5 


79.0 


78.4 


78.6 


Aug. 


64.2 


07.5 


75.8 


77.0 


76.0 


Sept . 


63.8 


05.0 


74.3 


75.0 


74.5 


( )cl . 


63.8 


65.1 


73.0 


74.8 


74.1 


Nov. 


64.9 


64.6 


72.0 


74.0 


73.5 


Dec. 


64.6 


64.9 


75.0 


73.6 


73.3 


1939-Jan. 


64.8 


64.8 


71.7 


73.5 


73.3 



U.K. 

Board of Trade" 



Foods 


Total 


100.0 


100.0 


98.1 


95.6 


98.4 


94.7 


93.9 


92.1 


81.8 


80.7 


72.4 


70.9 


71.8 


69.1 


07.8 


69.2 


09.5 


71.1 


71.0 


71.8 


75.0 


76.2 


S3. 7 


87.8 


79.7 


81.9 


81.3 


81.3 


80.0 


81.2 


77.5 


80.3 


75.2 


79.4 


75.7 


80.0 


74.1 


79.4 


75.1 


79.3 


75.7 


78.4 



U.S.A. 

Bureau of Labour 









Manu- 




Products 


Materials 


Foods 


factures 


Total 


100.0 


100.0 


100.0 


100.0 


100.0 


99.4 


96.5 


90.7 


95.0 


95.4 


105.9 


99.1 


101.0 


95.9 


96.7 


10-1.9 


97.5 


99.9 


9 4. 5 


95.3 


SS.3 


S4.3 


90.5 


ss.o 


86.4 


04. S 


65.6 


74. 6 


77.0 


73.0 


4S.2 


55.1 


61.0 


70.3 


64.8 


51.4 


56.5 


60.5 


70.5 


65.9 


65.3 


68.6 


70.5 


7S.2 


74.9 


78.8 


77.1 


S3. 7 


S2.2 


80.0 


80.9 


79.9 


82.1 


82.0 


80.8 


86.4 


84.8 


85.5 


87.2 


86.3 


68.5 


72.0 


73.0 


82.2 


78.6 


ON. 7 


71.4 


73.1 


82.2 


78.3 


09.4 


72.3 


74.3 


82.5 


78.8 


67.3 


71.4 


73.0 


81.8 


78.1 


0S.1 


72.0 


74.5 


Sl.S 


78.3 


00.8 


70.9 


73.5 


Sl.l 


77.6 


07. S 


71.5 


71.1 


SO. 5 


77.5 


07.0 


70.9 


73.1 


SO. 2 


77.0 


07.2 


70.9 


71.4 


80.0 


76.9 



t Wheat is included at the open market price or the Wheat Board's minimum buying price, whichever is the higher. (1) Adjusted to 1926 = 100 from 
base 1913 - 100 in 1926-29 and from base 1930= 100 in 1930 and thereafter. (2) Bureau of Labour Index of Prices of Finished Products. 



WHOLESALE PRICE INDEXES : CANADA, U.K. & U.S.A. : 1936-39 

1926=100 1926=100 

195 




CBRUAKY 1<M9 



Canadian Dollars* 



VII— WHOLESALE PRICES : CHIEF COMMODITIES 

Dominion Bureau of Statistics and Engineering & Mining Journal 





Wheat 


Flour 


Newsprint 


Pulp 


Lumber 


Copper 


Steel 


Cotton 


Gasoline 


Coal 




No. 1 
Northern 


First 
Patent 




Bleached 
Sulphite 


Fir 
Flooring 


Electro- 
lytic 


Billets 


Middling 


Tank 
Wagon 


American 




Lake-head 


Montreal 


f.o.b. Mills 


f.o.b. Mills 


f.o.b. Mills 


London'" 


f.o.b. Plant 


Hamilton 


Toronto 


Toronto' 2 ' 




bushel 


barrel 


short ton 


short ton 


M. bd. ft. 


cwt. 


long ton 


pound 


gallon 


short ton 


Annual Average 

1926 


1.50 


8.82 


65.0 


80.0 


26.0 


13.N 


38.0 


.194 


.253 


6.47 


1927 


1.48 


8.25 


65.0 


80.0 


24.3 


12.9 


30.7 


.191 


.212 


6.94 


192S 


1 .35 


7.77 


63.5 


75.6 


26.0 


14.6 


36.0 


.214 


.199 


5.92 


1929 


1 .34 


7.93 


55.0 


75.0 


24.8 


18.3 


36.0 


.199 


.199 


6.02 


1930 


.94 


7.02 


55.2 


69.2 


20.0 


13.0 


35.0 


.148 


.193 


5.86 


1931 


.59 


5.03 


53.1 


65.0 


16.2 


S.4 


34.8 


.099 


.169 


5.71 


1932 


.56 


4.81 


50.2 


55.0 


14.5 


6.3 


34.0 


.085 


.179 


5.65 


1933 


.61 


5.09 


37.1 


52.5 


14.3 


7.5 


34.0 


.106 


.173 


5.35 


1934 


.75 


5.50 


32.9 


55.0 


14.5 


7.4 


34.0 


.138 


.163 


5.73 


1935 


.84 


5.43 


33.4 


53.5 


15.1 


7.8 


34.0 


.138 


.158 


5.86 


1936 


.94 


6.08 


34.2 


53.0 


22.2 


9.5 


34.2 


.141 


.149 


6.75 


1937 


1.34 


7.73 


36.1 


65.6 


27.0 


13.1 


41.2 


.137 


.159 


6.75 


1938 


1.02 


6.49 


43.4 


59.5 


23.6 


10.0 


40.0 


.106 


.158 


6.75 


Monthly 

1938— June 


1.14 


7.20 


43.5 


59.0 


22.0 


9.2 


42.0 


.106 


.160 


6.75 


July 


.98 


6.75 


43.2 


59.0 


24.8 


9.8 


38.0 


.109 


.100 


6.75 


Aug. 


.77 


6.00 


43.1 


59.0 


25.8 


10.0 


38.0 


.104 


.160 


6.75 


Sept . 


.63 


5.17 


43.2 


59.0 


24.8 


10.2 


38.0 


.100 


.160 


6.75 


Oct. 


.62 


5.03 


43.4 


56.0 


24.0 


11.0 


38.0 


.107 


.150 


6.75 


Nov. 


.59 


4.88 


43.3 


54.0 


22.0 


10.8 


38.0 


.107 


.150 


6.75 


Dec. 


.61 


4.. S3 


43.4 


52.0 


22.0 


10.3 


38.0 


.103 


.150 


6.75 


1939— Jan. 


.60 


4.88 


43.3 


52.0 


22.0 


10.2 


38.0 


.106 


.150 


6.75 



*Prices have been converted into Canadian Funds where neccssaiy. (1) New York price prior to June 1932. (2) Montreal price prior to 1931 



SPOT PRICES OF INDUSTRIAL RAW MATERIALS : 1936-39 

RATIO SCALE 




29 



FEBRUARY 1939 



VIII— INTERNATIONAL PURCHASES AND SALES OF SECURITIES : 1938 



Millions of Dollars 




D 


Ttninion Bureau of Statistics 










Calendar Year 


Total 

Net Sales 

or 

Net 

Purchases 


Total 
Sales 


Total 
Purchases 


UNITED STATES 


UNITED KINGDOM 


OTHER COUNTRIES 


Sales 
To 


Purchases 


Sales 
To 


Purchases 
From 


Sales 
To 


Purchase} 
From 


Canadian Bonds 
Dominion 

Dominion ( Guaranteed 
Provincial 
Municipal 
Other Railway & Corp'n 


7.9 
.1 

2.0 
6.4 
1.0 


31.2 
13.1 
16.2 
8.5 
30.4 


23.3 
13.0 
18.2 
14.9 
29.4 


23.4 

9.5 

14.6 

4.S 
18.8 


18.3 

5 .9 

15.4 

10. 1 

1 5.5 


5.7 
3.1 
1.2 
3.3 
8.8 


4.0 
6.") 
2.2 
4.7 
11.5 


2.1 

.5 

.4 

A 

2.9 

6.3 


1.0 
.3 
.6 
./ 

2.4 


SUB-TOTAL 


.5 


99.4 


98.8 


71.0 


65.2 


22.1 


29.3 


4.3 


United States Bonds 


9.4 


4.7 


14.1 


4.5 


13.9 


.1 


.1 


- 


.1 


Other Countries' Bonds 


1.3 


4.7 


6.0 


1.3 


1.2 


2.1 


2.0 


1.4 


2.8 


Unspecified Bonds 


6.3 


17.8 


11.5 


12.4 


10.7 


4.1 


.6 


1.3 


.2 


TOTAL BONDS 


3.9 


126.5 


130.4 


89.2 


91.1 


28.3 


31.9 


9.1 


7.4 


Common & Pref. Shares 
Canadian 
United States 
Other Countries 


28.9 
3.1 
1.1 


129.8 

108.3 

1.9 


101.0 

105.2 

.8 


S5.3 

106.9 

.4 


65.0 

104.5 

.6 


21.0 

.4 

1.5 


29.1 
.3 
.2 


23.5 
1.0 


6.9 
.4 


TOTAL SHARES 


33.0 


240.0 


207.0 


192.6 


170.1 


22.9 


29.6 


24.5 


7.3 


Other Securities 


.3 


2.7 


3.0 


1.7 


.1 


1.0 


2.8 


- 


- 


TOTAL SECURITIES 


28.9 


369.2 


340.3 


283.5 


261.3 


52.1 


64.3 


33.6 


14.7 



INTERNATIONAL NET PURCHASES OR NET SALES OF SECURITIES: 1937-38 



MILLIONS OF DOLLARS 



QUARTERLY TOTALS 



MILLIONS OF DOLLARS 



20 



ALL COUNTRIES 



SALES TO 



IIKILb 

111 



PURCHASES FROM 



U. S. A. 



SALES TO 




PURCHASES FROM 



0THLR COUNTRIES 



PURCHASES FROM 



U. K. 



l^J \y-\ ~ 



PURCHASES FROM 



20 



■EBRUAKY 1939 



30 



Millions of Kilowatt Hours 



IX— CENTRAL ELECTRIC STATIONS 

Dominion Bureau of Statistics and Bank of Canada 





Output of Central Electric Stations 


Exports 


Deliveries 

to 
Electric 
Boilers 


Losses 
(Estimated) 


Firm 


Daily Average 


Generated 

by 

Water 


Generated 
by 
Fuel 


Total 


Consump- 
tion 
(Estimated) 


1920 


32.0 


.5 


33.1 


4.1 


2.7 


4.4 


22.0 


1927 


39.3 


.0 


39.8 


4.5 


4.7 


5.3 


25.4 


1928 


44.0 


.0 


44.6 


4.3 


4.9 


6.0 


29.3 


1929 


48.5 


.7 


49.2 


4.0 


5.9 


6.8 


32.5 


1930 


48.7 


.9 


49.6 


4.4 


5.8 


6.8 


32.6 


1931 


43.9 


.8 


44.7 


3.4 


5.1 


6.2 


30.0 


1932 


43.0 


.9 


43.9 


1.8 


7.8 


6.3 


28.0 


1933 


40.0 


.9 


47.5 


2.7 


9.9 


6.7 


28.2 


1934 


57.0 


1.0 


58.0 


3.4 


14.0 


8.2 


31.7 


1935 


03.1 


1.1 


64.1 


3.7 


17.1 


9.1 


34.2 


1930 


08.2 


1.2 


69.4 


4.3 


19.0 


9.8 


36.3 


1937 


74.2 


1.4 


75.6 


5.1 


20.0 


10.6 


39.9 


1938 


70.0 


1.2 


71.2 


5.0 


15.9 


9.9 


40.4 


12 Months Ending 
















Jan. 1939 


70.3 


1.2 


71.5 


5.0 


15.9 


10.0 


40.6 


Monthly 
















1938— June 
















July 


63.0 


1.1 


64.1 


5.1 


11.6 


8.8 


38.5 


Aug. 


65.6 


1.3 


66.8 


4.8 


13.2 


9.3 


39.5 


Sept . 


70.8 


1.3 


72.1 


5.1 


10.0 


10.1 


41.0 


Oct. 


73.8 


1.4 


75.1 


5.3 


17.4 


10.5 


41.9 


Nov. 


77. S 


1.4 


79.2 


5.5 


19.9 


11.1 


42.8 


Dec. 


74.4 


1.4 


75.8 


5.2 


17.8 


10.6 


42.2 


1939— Jan. 


75.7 


1.3 


77.0 


5.4 


IS. 5 


10.7 


42.4 



ELECTRIC POWER CONSUMPTION 

Millions of Kilowatt Hours ONTARIO monthly average of daily figures QUEBEC Millions of Kilowatt Hours 

221 1 1 1 I 1 1 118 




MJJASOND DJFMAMJJASOND 



31 



FEBRUARY 1939 



Millions of Dollars 



X— EXTERNAL TRADE : MERCHANDISE IMPORTS 

Compiled from Trade of Canada, Dominion Bureau of Statistics 





From 






Total 


Excess of 




U.K. 


Other 
British 


U.S.A. 


Other 
Foreign 


Imports 


Re-Exports 


Retained 
Imports 


Exports 

or Imports 


Calendar Year Totals 


















1926 


165 


50 


669 


125 


1,008 


15 


993 


282 


1927 


182 


58 


707 


139 


1,087 


20 


1,067 


155 


1928 


191 


63 


826 


142 


1,222 


24 


1,198 


154 


1929 


195 


62 


894 


148 


1,299 


2b 


1 ,273 


84 


1930 


163 


65 


654 


127 


1,008 


19 


989 


103 


1931 


109 


43 


394 


82 


628 


12 


616 


15 


1932 


94 


35 


264 


61 


453 


8 


445 


105 


1933 


98 


35 


217 


51 


401 


6 


395 


214 


1934 


113 


44 


294 


63 


513 


7 


507 


252 


1935 


117 


57 


312 


64 


550 


13 


537 


305 


1936 


123 


66 


369 


77 


635 


13 


622 


448 


1937 


147 


89 


491 


82 


809 


15 


794 


348 


1938 


119 


67 


425 


67 


677 


11 


666 


326 


Monthly Totals 


















1937— Nov. 


15.0 


10.2 


46.4 


9.0 


80.6 


1.2 


79.5 


33.3 


Dec. 


8.7 


4.6 


34.8 


5.0 


53.1 


.8 


52.3 


39.2 


1938— Jan. 


S.9 


4.1 


32.3 


4.4 


49.7 


1.2 


48.5 


32.8 


1938— Nov. 


11.0 


6.9 


37.7 


7.7 


63.3 


.9 


62.5 


38.8 


Dec. 


7.0 


4.2 


29.2 


3.9 


44.3 


1.0 


43.3 


32.7 


1939— Jan. (1) 


7.1 




28.8 




43.7 


.7 


43.0 


38.0 



(1) Preliminary. 



MILLIONS Or DOLLARS 

15001 



MERCHANDISE IMPORTS = 1926-39 



MILLIONS OF DOLLARS 

11500 



1000 



ANNUAL TOTALS 




1000 



500 



EBRUARY 1939 



32 



Millions of Dollars 



EXTERNAL TRADE : MERCHANDISE EXPORTS 

Compiled from Trade of Canada, Dominion Bureau of Statistics 





Merchandise (Excluding Gold) 


Non- Monetary Gold 


Total Exports 
























TO 












Non-monetary 










Total 


Exports 


Imports 


or Decrease 
in Gold 












Other 


Gold 






British 




Foreign 








Earmarked 




Calendar Year Totals 




















1920 


4.39 


96 


458 


248 


1,261 


14 


- 


- 


1,275 


1927 


410 


90 


407 


244 


1,210 


1 1 


- 


- 


1,221 


1928 


440 


99 


482 


312 


1,339 


13 


- 


- 


1,352 


1929 


290 


105 


493 


264 


1,152 


36 


- 


- 


1,189 


1930 


235 


81 


373 


174 


864 


22 


_ 


_ 


886 


1931 


170 


49 


240 


128 


588 


43 


- 


- 


631 


1932 


178 


39 


159 


114 


490 


61 


- 


- 


550 


1933 


211 


44 


168 


106 


529 


79 


- 


- 


609 


1934 


270 


05 


219 


95 


649 


110 


- 


- 


759 


1935 


304 


74 


202 


86 


725 


117 


- 


_ 


842 


1930 


395 


84 


334 


124 


938 


85 


- 


47 


1,070 


1937 


402 


104 


360 


131 


997 


125 


- 


20 


1,143 


1938 


340 


103 


270 


125 


838 


136 


58 


76 


992 


Monthly Totals 




















1937— Nov. 


49.1 


9.9 


27.9 


13.8 


100.7 


6.S 


- 


5.3 


112.8 


Dec. 


31.2 


8.1 


25.6 


10.2 


75.1 


13.S 


- 


2.7 


91.5 


1938— Jan. 


33.0 


9.0 


20.0 


7.7 


70.3 


11.0 


- 


- 


81.3 


1938— Nov. 


35.8 


8.0 


28.4 


13.3 


86.1 


7.2 


_ 


8.0 


101.2 


Dec. 


25.5 


9.1 


24.7 


9.6 


68.9 


.6 


./ 


6.6 


76.0 


1939— Jan.'" 


25.6 


10.2 


25.3 


9.0 


70.1 


1 1 .0 


./ 


- 


81.0 



MERCHANDISE EXPORTS 1926-39 



MILLIONS OF DOLLARS 

15001 



MILLIONS Or DOLLARS 

1500 



1000 



ANNUAL TOTALS 




1000 



500 



936 1937 1938 1939 1940 



33 



FEBRUARY 1939 



XI— ESTIMATED CANADIAN BALANCE OF INTERNATIONAL PAYMENTS 

Dominion Bureau of Statistics 



1937-38 





1937 


1938* 


Millions of Dollars 


Exports 
or Credits 


Imports 
or Debits 


Net Credit 

Net Del.it 


Exports 
or Credits 


Imports 
or Debits 


Net Credit 
Net Debit 


Current Account 


1,009.7 
145.1 


790.4 
.1 


213.3 
145.0 


S47.0 

150.5 


666.5 


1 SO 5 




150 5 








1,154.8 

294.7 
78.8 

111.7 
25.2 

510.4 


796.5 

124.4 
325.0 
137.2 
63.9 
650.5 


358.3 

170.3 

246.2 

25.5 

38.7 

140.1 

218.2 


1,003.5 

207.0 
70.0 

101.0 
24.0 

462.6 


666.5 

122.0 
312.0 
121.0 
59.8 
614.8 


337.0 


Invisible Items 


145.0 




242.0 




20.0 




35.2 




152.2 








1,665.2 


1,447.0 


1,466.1 


1,281.3 


184.8 






Capital Account 

New Issues or Retirements of 


89.5 

506.0 

24.0 


177.9 
511.4 
129.0 


88.4 
4.8 

105.0 


89.9 
367.0 

456.9 


150.0 
340.0 
127.0 


60.1 




27.0 




127.0 








620.1 


818.9 


198.8 


617.0 


160.1 






Balancing Itemj 






19.4 






24.7 







*Prcliminary. tTliis Balancing Item 



unavoidable errors and o 



n Current and Capital Account. 



ESTIMATED BALANCE OF CANADIAN INTEI 



DEBIT ITEMS 



MILLIONS Or DOLLARS 

2000 



MILLIONS OF DOLLARS 

2000 



1600 






1926 1927 



1929 1930 1931 1932 1933 1934 1935 1936 1937 1938 1939 1940 



BRUARY 1939 



34 



XI— ESTIMATED CANADIAN BALANCE OF INTERNATIONAL PAYMENTS : 1927-38 
NET RECEIPTS OR CREDITS : NET PAYMENTS OR DEBITS 

Dominion Bureau of Statistics 



Millions of Dollars 


1927 


1928 


1929 


1930 


1931 


1932 


1933 


1934 


1935 


1936 


1937 


1938* 


Current Account 


139 

11 

130 
211 

12 
8 

49 


131 
13 

168 

221 

19 

10 

55 


131 
30 

1SS 

200 

39 

28 

234 


122 
22 

179 

289 

32 

25 

267 


17 
43 

174 

280 

25 

21 

125 


74 
01 

155 

202 

28 

34 

35 


147 
79 

06 

224 

22 

34 

12 


14S 
110 

82 

212 

28 

26 

75 


193 
117 

119 

209 

14 

29 

177 


322 
131 

141 

234 

18 

34 

309 


213 
145 

170 

240 

26 

39 

218 


181 


Non- Monetary Gold 

Invisible Items 


157 
145 


Interest and Dividends. . . . 


242 
20 


Miscellaneous Services. . . . 
Balance on Current Account 


35 
185 


Capital Account 

New Issues or Retirements 

of Canadian Securities. . 

Other Security Transactions 

Other Capital Movements 

Net Capital Movement 


141 
1S4 
39 

4 


7 
188 
99 

82 


133 
105 

120 

154 


290 
13 
38 

315 


9 

24 
02 

47 


1 

16 


11 


26 
51 
51 
27 


58 
9 

67 
116 


154 
51 
70 

174 


104 
8 

98 
254 


88 

5 

106 

199 


60 
27 
127 

160 




15 


77 


38 


20 


47 


13 


8 


- 


- 


- 


- 










59 


50 


42 


29 


31 


34 


7 


41 


3 


55 


19 


25 







fTliis Balancing I Urn nicasuics unavoidable errors and 



ud Capita! Account. 



'AYMENTS ON CURRENT ACCOUNT : 1926-38 

CREDIT ITEMS AND NET BALANCE 

MILLIONS Or DOLLARS 

2000 



[600 



I200 



ILLIONS Or DOLLARS 

2000 



I600 



I200 




1926 1927 1928 1929 1930 1931 



1932 1933 1934 1935 1936 1937 1936 1939 1940 



I ARCH 1939 



35 



Millions of Dollars 

450 



BANK OF CANADA 

SOURCES AND DISTRIBUTION OF CASH 

MONTHLY AVERAGE OF WEDNESDAY FIGURES 



Millions of Dollars 

450 




150 



100 



50 



'x : : : x^'-S: : x : : : : : x<' : :!: : : : : : : : : : : : : ; x ; : : ::'. : : 

BARTERED BANK DEPOSI 

WITH BANK OF CANAD/ 



100 






SONDJFMAMJJASONIDJFMAMJJASONIDJF 
1935 1937 1938 1939 



S O N D J 
1936 



:-i-:->.-Ar;.-x-;,^;-y<--^--<--4---i--<f-' 

AMJJASONDJFM 



S N D J F 

1939 



36 



Millions of Dollars 



MARCH 1939 
I-BA 







LIABILITIES 




Chartered Bank Cash 


Govt. 
Deposits 


Other 

Deposits 


Active 

B. of C. 

Note 

Circulation 


All 

Other 

Accounts 






Notes 
in Tills 


Deposits 

at 
B. of C. 


Total 


Asse 

or 

Liabili 


Average of 
Wednesday Figures 

1935- 9 Mths. 


37.2 


176.5 


213.7 


23.9 


.7 


48.9 


6.8 


294. 


1936-12 Mths. 


40.4 


184.7 


225.1 


22.5 


1.0 


64.0 


9.4 


322. 


1937-12 Mths. 


49.8 


191.4 


241.2 


25.8 


1.2 


90.6 


13.5 


372. 


1938-12 Mths. 


56.0 


199.6 


255.6 


22.8 


2.1 


105.9 


12.5 


399. 


1938— Feb. 


51.6 


193.7 


245.3 


21.6 


2.4 


98.6 


13.3 


381. 


Mar. 


49.6 


193.2 


242.8 


23.4 


2.6 


100.0 


13.6 


382. 


Apr. 


52.8 


190.7 


243.5 


20.3 


2.7 


101.9 


13.8 


382. 


May 


54.9 


193.3 


248.2 


16.4 


2.8 


102.1 


14.4 


383. 


June 


53.0 


190.8 


243.8 


42.4 


2.1 


101.4 


15.1 


404. 


July 


55.1 


192.6 


247.7 


16.0 


2.0 


101.3 


13.7 


380. 


Aug. 


55.4 


199.8 


255.2 


13.3 


1.6 


104.3 


12.9 


387. 


Sept. 


60.2 


205.5 


265.7 


21.4 


1.0 


111.5 


9.3 


408. 


Oct. 


62.0 


216.2 


278.2 


28.6 


1.4 


118.4 


9.5 


436. 


Nov. 


58.3 


219.9 


278.2 


26.6 


1.5 


116.4 


10.5 


433. 


Dec. 


59.6 


204.6 


264.2 


28.4 


2.3 


115.6 


10.1 


420, 


1939— Jan. 


61.1 


210.4 


271.5 


23.6 


3.3 


107.5 


10.1 


416 


Feb. 


53.4 


207.0 


260.4 


31.8 


3.1 


106.0 


10.4 


411 


Wednesdays 

Mar. 1 


51.6" 


206.9 


258.5 (2) 


18.2 


3.1 


107.0 (2) 


10.5 


397 


8 


52.3 (2) 


206.2 


258.5 (2) 


16.1 


o .3 


107.0 <2) 


8.5 


393 


15 


53.6 <2) 


206.4 


260.0 m 


20.2 


3.3 


106.1 (2) 


9.0 


398 


22 


53.7 (2) 


204.1 


257.8 <2) 


22.7 


5.4 


105.5 <2) 


8.8 


400 



(1) Includes "Other Securities" 



MILLIONS OF DOLLARS 

285 



CHARTERED BANKS = CASH IN CANADA > 1936-39 



MILLIONS OF DOLLARS 

285 




NOV DEC 



.MARCH 1939 

CANADA 



37 



Millions of Dollars 



ASSETS 




Reserve 


Securities 


Advances 


All 

Other 

Accounts 




d 


Silver 


Foreign 
Currencies 


Total 
Reserve 


Reserve 
Ratio 


Dom.-Prov. 
Short 


Dom.-Prov. 
Long 


Total* 1 * 




.6 


1.4 


10.3 


166.2 


57.87 


25.6 


94.0 


119.6 


4.1 


4.0 


Average of 

Wednesday Figures 

1935- 9 Mths 


.7 


1.8 


11.4 


192.9 


61.69 


37.0 


86.3 


123.2 


1.7 


4.2 


1936-12 Mths 


.0 


2.5 


20.4 


204.8 


57.11 


57.9 


98.4 


162.2 


- 


5.1 


1937-12 Mths 


.0 


.9 


28.7 


210.6 


54.50 


122.5 


53.0 


181.2 


.9 


6.3 


1938-12 Mths 


.0 


3.0 


20.3 


203.4 


55.26 


72.7 


88.2 


173.1 


- 


4.8 


Feb.— 1938 


2 


3.0 


22.3 


205.5 


55.72 


119.3 


41.5 


173.1 


- 


3.8 


Mar. 


.7 


1.8 


21.5 


204.0 


55.37 


116.3 


41.5 


170.1 


2.8 


5.4 


Apr. 


.3 


.4 


24.4 


206.1 


55.78 


120.7 


39.0 


170.9 


- 


7.0 


May 


.9 


- 


37.7 


219.6 


56.34 


113.3 


51.9 


171.3 


- 


14.0 


June 


8 


- 


26.5 


207.3 


56.48 


114.5 


52.5 


167.8 


- 


5.6 


July 


5 


- 


26.0 


206.5 


55.17 


121.3 


52.5 


173.8 


- 


6.9 


Aug. 


.5 


- 


32.9 


214.4 


53.65 


139.8 


48.9 


188.7 


- 


5.8 


Sept. 


4 


- 


36.2 


217.6 


51.02 


161.9 


46.1 


208.0 


4.8 


5.6 


Oct. 


2 


- 


39.8 


220.9 


52.27 


162.2 


42.5 


204.7 


2.0 


5.6 


Nov. 


4 


- 


40.9 


223.3 


54.40 


151.0 


40.5 


191.4 


- 


5.9 


Dec. 


4 


- 


31.1 


219.5 


54.09 


140.1 


41.6 


181.7 


- 


14.7 


Jan.— 1939 


6 


- 


42.1 


236.8 


59.01 


128.8 


39.1 


167.9 


- 


7.0 


Feb. 


2 


_ 


29.0 


229.1 


59.24 


128.4 


33.7 


162.0 


_ 


6.1 


Wednesdays 

Mar. 1 


7 


- 


28.6 


230.3 


59.82 


128.4 


30.5 


158.9 




4.3 


8 


8 


- 


35.2 


237.0 


60.82 


130.8 


25.5 


156.3 


- 


5.4 


15 


1 


- 


36.4 


238.5 


60.93 


130.8 


26.1 


156.9 




4.8 


22 



CHARTERED BANKS ■■ CANADIAN DEPOSITS: 1936-39 



.IONS OF DOLLARS 



MILLIONS Or DOLLARS 




2500 



2400 



2300 



2200 



JAN. FEB. MAR APR. MAY JUNE JULY AUG. SEPT. OCT NOV DEC 



38 





















MARCH 1939 




















II— CHAR 


Millions of Dollars 


















Ban 


LIABILITIES 






Notes 


Deposits 


Cash 

in 
Canada' 11 


Securities 




Demand 


Time 


Dom. 
and Prov. 


Canadian 
Deposits'" 


Foreign 


Total 
Deposits' 2 ' 


DOM.-PROV. 


Otl 




Short 


Long 


Average of 
Month-end Figures 

1926 


169 


553 


1,341 


53 


1,958 


330 


2,333 


197 


344 


18 


1927 


172 


596 


1 ,399 


71 


2,079 


■M\) 


2,479 


195 


325 




1928 


177 


678 


1,497 


64 


2.254 


372 


2,703 


205 


334 


IS 


1929 


178 


696 


1,480 


102 


2,293 


418 


2,837 


212 


342 


15 


1930 


159 


623 


1,428 


76 


2,141 


390 


2,607 


197 


316 


In 


1931 


142 


579 


1 ,438 


73 


2,103 


333 


2,503 


182 


454 


22 


1932 


132 


486 


1,376 


82 


1,955 


312 


2,322 


186 


490 


2( 


1933 


130 


489 


1,379 


62 


1,941 


30S 


2,290 


195 


627 


21 


1934 


136 


514 


1,373 


66 


1 ,966 


322 


2,317 


203 


684 


IS 


1935 


126 


569 


1,445 


65 


2,104 


348 


2,476 


216 


407 


454 


Lr 


1936 


119 


618 


1,518 


77 


2,245 


401 


2,668 


225 


447 


628 


•i: 


1937 


110 


691 


1,574 


90 


2,382 


421 


2,840 


240 


445 


674 


3( 


1938 


100 


690 


1,630 


94 


2,449 


408 


2,892 


252 


447 


690 


2! 


1938— July 


101 


671 


1,623 


101 


2,445 


397 


2,862 


235 


422 


717 


■)( 


Aug. 


99 


687 


1 ,635 


96 


2,460 


400 


2,878 


257 


435 


710 


2! 


Sept. 


104 


725 


1,633 


89 


2,492 


425 


2,937 


264 


445 


084 


2! 


Oct. 


101 


749 


1,656 


75 


2,518 


419 


2,961 


286 


451 


009 


2! 


Nov. 


97 


750 


1,655 


94 


2,506 


436 


3,004 


271 


448 


093 




Dec. 


95 


734 


1,660 


106 


2,498 


420 


2,986 


257 


409 


093 


31 


1939— Jan. 


90 


700 


1 ,667 


90 


2,501 


430 


2,954 


209 


404 


097 


•1' 


Feb. 


94 


690 


1,691 


89 


2,514 


432 


2,974 


261 


481 


711 


2 


(1) Estimated month-enc 
(3) Until March 1935; G 


deposits pa 
old and Coir 


^able in Car 
in Canada 


adian currency 
Dominion Not 


(2) Inclu 
:s and "Free" C 


des inter-bank c 
entral Gold Re 


eposits. 
erve Deposi 


ts; after that date: Bank of Canada Notes and Deposits, 



CHARTERED BANKS CURRENT LOANS TO THE PUBLIC IN CANADA : 1937-39 

MILLIONS Or DOLLARS MILLIONS OF DOLLARS 

90or 




JAN. FEB MAR APR 



AUG SEPT 



OCT NOV DEC. 



MARCH 1939 



39 



BANKS 



Millions of Dollars 



ASSETS 



140 
18G 
254 
267 

227 
170 
117 
102 

102 
82 
93 

107 
67 

71 
71 
60 
66 
64 
65 

63 
60 



Loans 



934 
1,024 

1,178 
1 ,343 

1,286 

1,124 

1,032 

907 

869 
829 
699 

732 

786 

786 
781 
829 
848 
837 
806 

792 

787 



87 

83 

105 

112 

118 
147 
165 
147 

145 
134 
121 
117 
129 

134 
132 
136 
137 
133 
134 

127 
133 



250 
269 
267 
301 

188 
109 

84 
92 

107 

72 
64 
68 
51 

53 
55 
45 
52 
48 
51 

56 
54 



261 
269 
262 

248 

239 
205 
172 
148 

138 
146 
150 
165 

158 

152 
144 
143 
142 
148 
152 

148 
145 



Total 
Assets 



2,864 
3,029 
3,323 
3,528 

3,237 
3,066 
2,869 
2,831 

2,838 
2,957 
3,145 
3,317 
3,349 

3,322 
3,334 
3,400 
3,424 
3,455 
3,431 

3,396 
3,421 



DAILY AVERAGE DATA 




Cash 


Canadian 


Ratio of 
Cash to 


Total 
Active 




Canada * 


Deposits (4) 


Deposits in 


Note 






Canada 


Circulation' 5 ' 












Average of 










Daily Figures 


192 


1,958 


9.8 


195 


1926 


1S7 


2,079 


9.0 


198 


1927 


193 


2,254 


8.5 


204 


1928 


191 


2,293 


8.3 


205 


1929 


176 


2,141 


8.2 


185 


1930 


169 


2,103 


8.1 


167 


1931 


172 


1,955 


8.8 


158 


1932 


189 


1,941 


9.8 


157 


1933 


201 


1,966 


10.2 


163 


1934 


213 


2,108 


10.1 


169 


1935 


225 


2,213 


10.2 


182 


1936 


240 


2,357 


10.2 


200 


1937 


254 


2,412 


10.5 


205 


1938 


245 


2,444 


10.0 


201 


July— 1938 


254 


2,426 


10.5 


201 


Aug. 


263 


2,442 


10.8 


214 


Sept. 


277 


2,474 


11.2 


220 


Oct. 


279 


2,487 


11.2 


214 


Nov. 


261 


2,473 


10.6 


216 


Dec. 


269 


2,473 


10.9 


195 


Jan.— 1939 


260 


2,466 


10.6 


197 


Feb. 



,ures given are annual averages of estimated month-end Canadian deposits in 1926-35 and monthly average Ct 
artered Bank note circulation and Bank of Canada notes in public circulation. 



deposits in 1936 and after. 



CHARTERED BANK HOLDINGS OF DOM. AND PR0V. SECURITIES'- 1937-39 



MILLIONS Or DOLLARS 

1200 



MILLIONS OF DOLLARS 

1200 




JAN EEB MAR 

Direct and Guaranteed. 



JUNE JULY AUG. SEPT. OCT. NOV. DEC. 



40 



MARCH 1939 



III— SECURITY PRICES 

Bank of Canada 









Dominion of Canada Bonds Payable 


in Canada Only 














Middle Prices and Yields 






























Working Days 


3Vi% du« 


June 1, 


3% due 


June 1, 


3H% due 


June 1, 


5% due Oct. 15, 


2% due 


June 1, 




1956 


-66 


1950 


-55 


1946 


-49 


1943 


1942 




Price 


Yield 


Price 


Yield 


Price 


Yield 


Price 


Yield 


Price 


Yield 


1938 


100.41 


3.22 


99.01 


3.08 


102.73 


2.86 


113.51 


2.27 


101.38 


1.63 


1938— Jan. 


99.28 


3.29 


97.67 


3.18 


101.55 


3.04 


112.49 


2.64 


100.00 


2.00 


Feb. 


99.74 


3.26 


98.17 


3.14 


102.26 


2.94 


113.38 


2.46 


100.81 


1.80 


Mar. 


99.73 


3.26 


98.55 


3.11 


102.50 


2.91 


113.84 


2.34 


101.13 


1.72 


Apr. 


100.16 


3.24 


99.54 


3.04 


103.07 


2.82 


113.89 


2.30 


101.30 


1.67 


May 


100.79 


3.19 


99.91 


3.01 


103.44 


2.77 


114.51 


2.15 


101.97 


1.50 


June 


101.02 


3.18 


99.51 


3.04 


103.41 


2.77 


114.76 


2.06 


102.10 


1.45 


July 


100.93 


3.18 


99.20 


3.06 


103.05 


2.82 


113.73 


2.22 


101.93 


1.49 


Aug. 


100.63 


3.20 


99.21 


3.06 


102.94 


2.83 


113.46 


2.23 


101.53 


1.58 


Sept. 


99.02 


3.30 


97.96 


3.16 


101.59 


3.02 


112.34 


2.41 


100.83 


1.77 


Oct. 


100.24 


3.23 


98.89 


3.09 


102.30 


2.91 


112.62 


2.31 


101.14 


1.68 


Nov. 


101.39 


3.15 


99.75 


3.02 


103.25 


2.77 


113.66 


2.06 


101.94 


1.44 


Dec. 


101.94 


3.10 


99.80 


3.02 


103.44 


2.74 


113.48 


2.06 


101.90 


1.44 


1939— Jan. 


101.99 


3.10 


99.72 


3.02 


103.70 


2.69 


112.97 


2.12 


101.67 


1.49 


Feb. 


102.44 


3.07 


99.94 


3.01 


103.85 


2.67 


112.85 


2.09 


101.49 


1.53 


Mar. (,) 


102.57 


3.06 


100.58 


2.94 


104.06 


2.63 


112.85 


2.05 


101.66 


1.47 



(1) Average March 1 - 24. 



YIELDS OF DOMINION GOVERNMENT BONDS : 1 938-39 

PAYABLE IN CANADA ONLY 




♦Average rate of successful tenders for new offerings. (1) March 15. (2) March 25. 



MARCH 1939 



41 









III— SECURITY PRICES 

Bank of Canada 
























Government Bonds 




Treasury Bills 

Three Months 










Average 


Yield of Successful 


Average of 












Tender s w 




Working Days 


Canada* (1) 


U. K.* co 


U.S.A.* » 


Canada 


U.K 


U.S.A. 




Price 


Yield 


Price 


Yield 


Price 


Yield 


1938 


99.71 


3.15 


100.79 


3.41 


103.51 


2.61 


.590 


.614 


.055 


1938— Jan. 


98.48 


3.24 


101.94 


3.33 


102.21 


2.71 


.726 


.500 


All 


Feb. 


98.96 


3.20 


102.50 


3.29 


102.37 


2.70 


.648 


.504 


.078 


Mar. 


99.14 


3.19 


100.82 


3.42 


102.50 


2.69 


.524 


.506 


.070 


Apr. 


99.85 


3.14 


101.39 


3.38 


102.66 


2.68 


.503 


.512 


.061 


May 


100.35 


3.10 


101.51 


3.37 


103.99 


2.58 


.471 


.504 


.027 


June 


100.27 


3.11 


101.70 


3.35 


103.94 


2.58 


.465 


.574 


.016 


July 


100.07 


3.12 


102.50 


3.28 


103.99 


2.58 


.489 


.522 


.054 


Aug. 


99.92 


3.13 


101.99 


3.32 


104.19 


2.56 


.519 


.506 


.047 


Sept. 


98.49 


3.23 


98.26 


3.56 


103.26 


2.63 


.608 


.945 


.106 


Oct. 


99.57 


3.16 


99.44 


3.52 


104.44 


2.54 


.747 


.773 


.018 


Nov. 


100.57 


3.09 


99.42 


3.52 


104.17 


2.56 


.693 


.526 


.027 


Dec. 


100.87 


3.06 


97.99 


3.57 


104.36 


2.55 


.672 


1.003 


.013 


1939— Jan. 


100.86 


3.06 


96.97 


3.61 


104.74 


2.52 


.690 


.534 


Nil 


Feb. 


101.19 


3.04 


96.80 


3.62 


105.15 


2.48 


.681 


.503 


.005 


Mar. (S) 


101.58 


3.00 


96.53 


3.63 


106.31 


2.40 


.665 


.506 


Nil 



* Differing coupon rates and maturity provisions, and the fact that the U. S. Treasury issue is exempt from "normal" income 
comparison of absolute yield levels. 

(1) Average of Dominion of Canada 3% due June 1. 1950-55 and 3\i% due June 1, 1956-66. 

(2) United Kingdom 3Y 2 % "War Loan" due Dec. 1, 1952 and after; price excluding accrued interest. 

(3) U. S. Treasury 2H7c due Mar. 15, 1955-60. 

(4) On (or nearest to) 15th of each month. (5) Average Mar. 1 - 24 for Bond Prices and Yields. 



LONG TERM DOMESTIC GOVERNMENT BOND YIELDS : CANADA, U.K. & U.S.A. : 1938-39 



3 00% 



350% 



>*/X/-W^v*- 



a,' 



A^v-v/v 



<**%/ 



— U.S. TREASURY - 



DAILY OPENING 



H 



*^-wA^ 



v'v^V 



DOM. Of CANADA 

AVERAGE OF 

3% DUE I JUNE. 1950-55 

314 % DUE I JUNE, 1956-66 




/v 






■See note above. (1) March 25. (2) March 24. 



42 



MARCH VW 



IV 



GOLD EXPORT AND 

Dominion Bureau of . 





EXPORTS 


IMPORTS 


Net 


NET CHANGE 


Net 


Value 


































Exports 


N GOLD HELD 


Exports 


of Net 

Exports 

(Adjusted) 

(3) 




RAW 


BULLION 


COIN 


Total 


111 LLION 


COIN 


Total 


or 
Imports 


FOR ACC'T OF 

FOREIGNERS 

(2) 


(Adjusted) 




Thousands of fine ounces 


tmm. 


Annual Totals 
























1926 


355 


2,023 


1,355 


3,733 


11)1 


2,116 


2,217 


1,516 


- 


1,516 


31.3 


1927 


381 


243 


2,032 


2,656 


38 


1 ,403 


1,441 


1,215 


- 


1,215 


25.2 


1928 


506 


2,366 


2,715 


5,587 


47 


1 ,258 


1,305 


4,282 




4,282 


88.5 


1929 


1,451 


787 


1,415 


3,653 


i:> 


IN 


93 


3,560 


" 


3,560 


73.6 


1930 


1,079 


- 


871 


1,950 


35 


1,766 


1,801 


149 


- 


149 


3.1 


1931 


838 


1,543 


1,811 


4,192 


19 


- 


19 


4,173 


- 


4,173 


90.0 


1932 


167 


2,487 


456 


3,110 


13 


- 


13 


3,097 


- 


3,097 


72.8 


1933 


80 


2,709 


289 


3,078 


; : 


- 


3 


3,075 


- 


3,075 


87.5 


1934 


116 


3,049 


4 


3,169 


3 


- 


3 


3,166 


- 


3,166 


109.6 


1935 


125 


2,742 


465 


3,332 


is 


- 


18 


3,314 


- 


3,314 


116.6 


1936 


172 


2,039 


215 


2,427 


5 


17 


22 


2,405 


1 ,352 


3,757 


131.6 


1937 


211 


3,030 


344 


3,585 


6 


1 


7 


3,578 


580 


4,158 


145.1 


1938 


240 


1,935 


1 ,725 


3,901 


1,(140 


10 


1,651 


2,250 


2,219 


4,469 


156.3 


Monthly Totals 
























1936— Jan. 


12 


295 


- 


307 


- 


- 


- 


307 


- 


307 


10.8 


Feb. 


10 


74 


88 


173 


1 


- 


1 


172 


172 


344 


12.1 


Mar. 


12 


40 


107 


160 


1 


- 


1 


159 


90 


249 


8.7 


Apr. 


8 


331 


- 


338 


- 


- 




338 


- 


338 


11.9 


May 


11 


87 


- 


99 


- 


- 


- 


99 


148 


247 


8.6 


June 


17 


- 


13 


30 


- 


- 


- 


30 


293 


323 


11.3 


July 


14 


_ 


7 


21 


_ 


_ 


1 


21 


23S 


259 


9.0 


Aug. 


20 


298 


- 


318 


1 


17 


17 


301 


- 


301 


10.5 


Sept. 


16 


130 


- 


146 


1 


- 


1 


145 


149 


294 


10.3 


Oct. 


18 


295 


- 


313 








313 


69 


382 


13.4 


Nov. 


15 


373 


- 


388 




- 


- 


388 


- 


388 


13.6 


Dec. 


19 


117 


- 


135 


- 


- 




135 


194 


329 


11.5 


1937— Jan. 


15 


146 


- 


160 




_ 


- 


160 


131 


291 


10.1 


Feb. 


18 


291 


- 


309 


- 


- 




309 


- 


309 


10.8 


Mar. 


21 


121 


- 


142 


1 


1 


2 


140 


73 


213 


7.5 


Apr. 


8 


194 


- 


202 


1 


- 


1 


201 


- 


201 


7.0 


May. 


20 


392 


- 


412 


1 


- 


1 


411 


- 


411 


14.4 


June 


15 


555 


- 


570 


1 


- 


1 


569 


- 


569 


19.9 


July 


19 


220 


_ 


239 


_ 


_ 


- 


239 


96 


335 


11.7 


Aug. 


22 


332 


- 


354 


- 


- 




354 


- 


354 


12.3 


Sept. 


14 


320 


- 


334 








334 


- 


334 


11.6 


Oct. 


22 


251 


- 


272 


1 


- 


1 


271 


53 


324 


11.3 


Nov. 


18 


152 


24 


194 




- 


- 


194 


15! 


345 


12.1 


Dec. 


21 


54 


320 


395 




- 




395 


76 


471 


16.4 


1938— Jan. 


21 


_ 


295 


316 




_ 




316 


- 


316 


11.0 


Feb. 


16 


- 


304 


320 


- 


- 




320 


- 


320 


11.2 


Mar. 


26 


- 


213 


240 


_ 


- 


- 


240 


265 


505 


17.6 


Apr. 


11 


- 


124 


135 


- 


- 




135 


132 


267 


9-3 


May 


23 


- 


116 


139 


744 


- 


744 


605 


1,011 


406 


14.3 


June 


20 


2 


304 


326 


'.) 


1 


11 


315 


11 


326 


11.5 


July 


21 


_ 


304 


325 


A 


_ 


4 


321 


4 


325 


11.5 


Aug. 


23 


387 


65 


475 


- 


- 


- 


475 


1 


476 


16.6 


Sept. 


21 


994 


- 


1,015 


7 


2 


9 


1,006 


571 


435 


15.1 


Oct. 


21 


364 


- 


385 


874 


6 


880 


495 


942 


447 


15.5 


Nov. 


20 


188 


- 


208 


1 


- 


1 


207 


231 


438 


15.3 


Dec. 


17 


- 


- 


17 


1 


1 


2 


15 


194 


209 


7.3 


1939— Jan. 


20 


294 


_ 


314 


1 


1 


2 


312 


13 


325 


11.3 


Feb.* 


16 


103 


- 


119 


52 


o 


54 


65 


60 


125 


4.4 



* The figures contained in this table differ from those previously published, particularly in the earlier years, because a different criterion is used tor distinguishing between m< 
Bank of Canada plus estimated changes in other foreign-owned gold held in Canada. (3) Valued monthly at market price in Canadian dollars, except in the case of earmark 
and chartered banks until March 19,55 and that of the Bank of Canada thereafter; all other items are classed as non-monetary. (5) A domestic gold purchase for Canadian n 
a percentage of the value of total merchandise exports, including non-monetary gold, t Preliminary. 



MARCH 1939 



43 



1 STATISTICS* : 1926-39 

nd Bank of Canada 



MONETARY* 4 ' 


NON-MONETARY <4) 








DOMEStH 


Net 
Exports 




DOMESTIC 




NET CHANGE 
IN GOLD HELD 


Net 


Value 


Percentage 
of Total 




XPORTS 


IMPORTS 




or 


EXPORTS 


MONETARY 


IMPORTS 


FOR ACC'T OF 


Exports 


of Net 


Merchan- 








(5) 


Imports 
(Adjusted! 




PURCHASE 
(S) 




FOREIGNERS 
(2) 


(Adjusted) 


Exports 

(3) 


dise Exports 




Thousands of fine ounces 


$ mm. 


Per cent 


























Annual Totals 


,273 


2,177 


1,049 


47 


461 


1,049 


41 


- 


1,469 


30.4 


2.4 


1926 


,060 


1,209 


1,194 


343 


596 


1,194 


231 


- 


1,559 


32.2 


2.6 


1927 


,347 


1 ,258 


746 


2,343 


1,240 


746 


47 


- 


1,939 


40.1 


2.9 


1928 


,923 


48 


113 


1,762 


1,730 


113 


45 


- 


1,798 


37.2 


3.1 


1929 


871 


1,766 


836 


1,731 


1,079 


836 


35 


- 


1,880 


38.9 


4.3 


1930 


1.679 


- 


1,139 


1,540 


1,513 


1,139 


19 


- 


2,633 


56.9 


8.8 


1931 


512 


- 


397 


115 


2,597 


397 


13 


- 


2,981 


70.0 


12.5 


1932 


313 


- 


97 


216 


2,765 


97 


3 


- 


2,859 


81.7 


13.4 


1933 


69 


_ 


141 


72 


3,100 


141 


3 


- 


3,238 


113.6 


14.9 


1934 


- 


- 


82 


82 


3,332 


82 


18 


- 


3,396 


118.7 


14.9 


1935 


- 


- 


- 


- 


2,427 


- 


22 


1,352 


3,757 


131.6 


12.3 


1936 


348 


- 


34S 


- 


3,237 


348 


7 


580 


4,158 


145.1 


12.7 


1937 


- 


- 


122 


122 


3,901 


122 


1,651 


2,219 


4,591 


160.5 


16.1 


1938 

Monthly Totals 


- 


- 


- 


- 


307 


- 


- 


- 


307 


10.8 


16.9 


Jan.— 1936 


- 


- 


- 


- 


173 


- 


1 


172 


344 


12.1 


17.0 


Feb. 


- 


- 


- 


- 


160 


- 


1 


90 


249 


8.7 


10.8 


Mar. 


- 


- 


- 


- 


338 


- 


- 


- 


338 


11.9 


20.7 


Apr. 


- 


- 


- 


- 


99 


- 


- 


148 


247 


8.6 


9.7 


May 


- 


- 


- 


- 


30 


- 


- 


293 


323 


11.3 


12.6 


June 


- 


_ 


_ 


- 


21 


- 


1 


238 


259 


9.0 


9.7 


July 


- 


- 


- 


- 


318 


- 


17 


- 


301 


10.5 


11.4 


Aug. 


- 


- 


- 


- 


146 


- 


1 


149 


294 


10.3 


10.9 


Sept. 


- 


- 


- 


- 


313 


- 


- 


69 


382 


13.4 


11.8 


Oct. 


- 


- 


- 




388 


- 


- 


- 


388 


13.6 


11.2 


Nov. 


- 


- 


- 


- 


135 


- 


- 


194 


329 


11.5 


11.0 


Dec. 


- 


_ 


_ 


- 


160 


- 


_ 


131 


291 


10.1 


11.7 


Jan.— 1937 


- 


- 


- 


- 


309 


- 


- 


- 


309 


10.8 


14.4 


Feb. 


- 


- 


251 


251 


142 


251 


2 


73 


464 


16.3 


16.3 


Mar. 


- 


- 


97 


97 


202 


97 


1 


- 


298 


10.3 


15.1 


Apr. 


115 


- 


- 


115 


297 


- 


1 


- 


296 


10.3 


10.4 


May 


184 


- 


- 


184 


386 


- 


1 


- 


385 


13.5 


12.6 


June 


48 


_ 


_ 


48 


191 


_ 


_ 


96 


287 


10.1 


10.0 


July 


- 


- 


- 


- 


354 


- 


_ 


- 


354 


12.3 


12.2 


Au?. 


- 


- 


- 


- 


334 


- 


- 


- 


334 


11.6 


12.4 


Sept. 


- 


- 


- 


- 


272 


- 


1 


53 


324 


11.3 


10.8 


Oct. 


- 


- 


- 


- 


194 


- 


- 


151 


345 


12.1 


10.7 


Nov. 


- 


- 


- 


- 


394 


- 


- 


76 


470 


16.4 


17.9 


Dec. 


- 


_ 


_ 


_ 


316 


_ 


_ 


_ 


316 


11.0 


13.5 


Jan.— 1938 


- 


- 


- 


- 


320 


- 




- 


320 


11.2 


15.8 


Feb. 


- 


- 




- 


240 


- 


- 


265 


505 


17.6 


19.4 


Mar. 


- 


- 


- 


- 


135 


- 


- 


132 


267 


9.3 


15.4 


Apr. 


- 


- 


- 


- 


139 


- 


744 


1,011 


406 


14.3 


17.6 


May 


- 


- 


- 


- 


326 


- 


11 


11 


326 


11.5 


14.9 


June 


- 


- 


- 


- 


325 


- 


4 


4 


325 


11.5 


14.8 


July 


- 


- 


- 


- 


475 


- 


- 


1 


475 


16.6 


19.4 


Aug. 


- 


- 


- 


- 


1,015 


- 


9 


571 


435 


15.1 


17.3 


Sept. 


- 


- 


- 


- 


385 


- 


S80 


942 


447 


15.5 


14.9 


Oct. 


- 


- 


- 


- 


208 


- 


1 


231 


438 


15.3 


15.1 


Nov. 


- 


- 


122 


122 


17 


122 


2 


194 


332 


11.6 


14.4 


Dec. 


- 


- 


192 


192 


314 


192 


o 


13 


516 


18.1 


20.5 


Jan.— 1939 


- 


- 


245 


245 


119 


245 


54 


60 


370 


12.9 


18.4 


Feb.* 


n moneUtry items (see notes 4 and 5) 


(1) Exports 


direct from m 


nes, including 


all exports of 


ores, concent 


ates, dust, etc 


. (2) Change 


■; in gold held 


under earmark at the 


f ilued at $35 per fine mince. (4) Mo 


netary exports 


or imports ar 


e those which 




crease Canadi 


an monetary g 


)ld stocks, i.e. 


those of the I 


)ominion Government 


c ias been 


treated as the 


equivalent of 


(a) an export 


of non-monet 


iry gold, and 


b) an import 


jf monetary g 


)ld. (6) Valu 


e of net expor 


s of non-mom 


tary gold expressed as 



44 



MARCH 1939 



CANADIAN GOLD STATISTICS 

Dominion Bureau of Statistics 
VALUE OF PRODUCTION NON-MONETARY EXPORTS* 

Millions of Canadian Dollars Indexes: 1926 = 100 




D J F M 



WORLD GOLD PRODUCTION 

Imperial Institute 
ANNUAL TOTALS 



40 



ARITHMETIC SCALE 




1926 '27 28 '29 '30 '31 '32 '33 '34 '35 '36 '37 '38 T 



* In the case of U.S.S.R. rough estimates based on data published by Imperial 
t Partly estimated on basis of data published by Samuel Montagu & Co. 




1926 '27 '28 '29 '30 '31 '32 '33 '34 '35 '36 '37 '3 
Institute and Federal Reserve Board. 



MARCH 1939 



45 



INDUSTRIAL ACTIVITY 

Dominion Bureau of Statistics 





Physical 

Volume of 

Business 

Index 

Seasonally 
adjusted 

1926 = 100 


PRODUCTION 


Con- 
struction 
Contracts 
Awarded 


Car 
Loadings 


Employ- 




Gold 


Copper 


Steel 


Auto- 
mobiles 
& Trucks 


News- 
print 


Central 
Electric 
Stations 


Index") 

Seasonally 
adjusted 

1926 = 100 




Thousands 
Fine Ounces 


Thousands 
Short Tons 


Thousands 
Long Tons 


Thousands 


Thousands 
Short Tons 


Millions 
Kilowatt Hrs. 


Millions 
of Dollars 


Thousands 


Annual Totals(2) 

1926 
1927 
1928 
1929 


100.0 
106.1 
117.3 
125.5 


1 ,754 
1,853 
1,891 
1,928 


67.0 

70.1 

101.3 

124.1 


776 

908 

1,235 

1,378 


205.0 

178.8 
241.4 
262.6 


1,889 
2,083 
2,414 
2,725 


11,926 
14,231 
15,931 
17,633 


372.9 
419.0 
472.0 
576.7 


3,253 
3,397 
3,696 
3,524 


100.0 
104.6 
111.6 
119.2 


1930 
1931 
1932 
1933 


109.5 
93.5 

78.7 
79.7 


2,102 
2,694 
3,044 
2,949 


151.7 
146.2 
123.8 
150.0 


1,010 
672 
339 
410 


153.4 
82.6 
60.8 
65.9 


2,498 

2,227 
1,919 
2,022 


17,863 
16,383 
15,863 
17,553 


457.0 

315.5 

132.9 

97.3 


3,144 
2,575 
2,176 
2,032 


113.4 

102.5 

86.4 

84.2 


1934 
1935 
1936 
1937 
1938 


94.2 
102.4 
112.2 
122.7 
112.9 


2,972 
3,285 
3,748 
4,096 
4,716 


182.4 
209.5 
210.5 
265.0 
293.7 


758 

942 

1,116 

1,403 

1,156 


116.9 
172.9 
162.2 
207.5 
166.1 


2,605 
2,765 
3,225 
3,674 
2,625 


21,160 
23,404 
25,394 
27,584 
25,994 


125.8 
160.3 
162.6 
224.1 
187.3 


2,321 

2,358 
2,494 
2,635 
2,429 


96.4 

99.8 

104.0 

114.1 

111.4 


Monthly Totals 

1937-Dec. 

1938-Jan. 

Feb. 


121.4 
111.8 
106.7 


362.2 
361.1 
340.8 


24.6 
26.2 
23.4 


98.3 

112.4 

99.0 


21.1 

17.6 
16.1 


293.0 
222.5 
202.6 


2,458 
2,281 
2,058 


10.8 
9.1 
6.6 


204.2 
187.4 
179.7 


117.8 
114.7 
112.3 


1938-Dec. 

1939-Jan. 

Feb. 


115.6 
113.0 

111.7 


433.9 

411.3 


24.6 
24.1 


78.6 
78.2 

77.2 


18.7 
14.8 
14.3 


209.8 
208.4 
200.6 


2,350 

2,387 
2,214 


10.5 

7.3 

11.3 


178.4 
171.4 
159.7 


112.3 
110.6 
111.0 



(1) As at end of month. (2) Average of months in case of Physical Volume of Business and Employment Indexes. 



THOUSANDS OF SHORT TONS 



NEWSPRINT : NORTH AMERICA 



THOUSANDS OF SHORT TONS 



4400 



4000 



3600 




400 



DJFMAMJ JASONDJFMAMJJ ASONDJ FM 
1936 1937 

(1) North American Production plus imports from Europe less shipments overseas. 

(2) A.N.P.A. estimate of U.S. consumption plus Canadian shipments to Canadian publishers. 

(3) Cumulative difference of monthly figures for (a) Retained Production plus Imports and (b) Esti: 



iption by Publishers. 



46 



MARCH 1939 



VI— STOCK EXCHANGE STATISTICS 

MONTREAL AND TORONTO STOCK EXCHANGES 

Stock Exchange Bulletins 





Member Borrowings 
on Canadian Collateral 


Market Value of 
All Listed Stocks 


Common Stock Price Indexes 


Value oe Shares 
Traded during Month 




Montreal Stock 
Exchange 


Toronto Stock 
Exchange 




Millions of Dollars 


Millions 


of Dollars 


1926 


= 100 


July-Dec. 


1933 = 100 


Millions of Dollars 




Montreal 


to 

Toronto 


Total 


Montreal 


Toronto 


20 

Industrials 


10 

Utilities 


20 
Golds 


10 
Base Metals 


Montreal 


Toronto 


(2) 

1930-Low 


16.1 


21.8 


39. 7 


4,711 


4,713 


70 


67 


116 


67 


* 


39 


High 


33.4 


40.2 


73.6 


6,158 


5,912 


109 


86 


156 


115 


* 


90 


(2) 

1937-Low 


17.5 


27.8 


45.3 


4,7S0 li) 


4,565 


66 


65 


96 


64 


20 


26 


High 


43.8 


46.7 


86.1 


6,743 w 


6,458 (3) 


122 


93 


169 


137 


94 


96 


(2) 

lyas-Low 


13.4 


20.3 


33.7 


4,2(53 


4,086 


(il 


60 


103 


64 


15 


26 


High 


17.1 


27.8 


44.9 


5,376 


5,009 


88 


69 


126 


101 


32 


49 


Month-end. 
























1938-Feb. 


17.1 


27.8 


44.9 


5,123 


4,964 


78 


65 


122 


83 


17 


38 


Mar. 


14.2 


22.2 


36.4 


4,263 


4,086 


01 


60 


103 


64 


25 


49 


Apr. 


13.6 


22.4 


36.1 


4,665 


4,519 


70 


62 


113 


74 


17 


30 


May 


13.6 


23.0 


36.6 


4,583 


4,389 


OS 


62 


113 


73 


15 


26 


June 


14.0 


23.0 


37.6 


4,958 


4,734 


80 


69 


117 


86 


20 


31 


July 


16.2 


25.7 


41.9 


5,196 


4,960 


88 


67 


126 


96 


32 


41 


Aug. 


16.3 


25.4 


41.8 


5,022 


4,782 


80 


66 


122 


89 


23 


38 


Sept. 


13.4 


20.3 


33.7 


4,995 


4,852 


SO 


64 


120 


91 


29 


40 


Oct. 


14.5 


21.4 


35.9 


5,376 


5,069 


85 


67 


122 


101 


31 


49 


Nov. 


15.0 


22.4 


37.4 


5,252 


4,984 


82 


65 


122 


100 


25 


38 


Dec. 


15.5 


23.3 


38.8 


5,322 


5,044 


85 


64 


126 


101 


20 


28 


1939-Jan. 


13.9 


21.6 


35.5 


5,101 


4,854 


79 


63 


124 


95 


22 


34 


Feb. 


13.3 


20.9 


34.2 


5,200 


4,927 


79 


66 


126 


96 


15 


23 



(1) Including Curb Market. (2) Monthly figures except in the case of Common Stock Prices where daily figures were used, (i) Revised. *Not available. 



COMMON STOCK PRICES : CANADA. U.K. AND U.S.A. : 1936-39 



RATIO SCALE 



250 




JFMAMJJASONDJFMAMJJASONDJFMAMJJASONDJFMAMJ 

1936 1937 1938 1939 

(1) Toronto Stock Exchange Index of 20 Industrial stocks July-Dec 1933= 100 and Montreal index as given in table above. (2) March 24. 



MARCH 1W9 



47 



Cents per unit 



VII— FOREIGN EXCHANGE RATES 

Federal Reserve Bulletin and Bank of Canada^ 



Average of 


Sterling in 
Canada 


U.S. Dollar 
in Canada 


Can. Dollar 
in New York 


Sterling in 
New York 


French Franc 
in New York 


Working Days 




Percentage 
Premium or 
Discount (2i 




Percentage 
Premium or 
Discount (2) 




Percentage 
Premium or 
Discount (2) 




Percentage 
Premium or 
Discount (2) 




Percentage 
Premium or 
Discount m 


1928 
1929 
1930 
1931 


487.06 
489.38 
486.98 
470.66 


+ .08 
+ .56 
+ .07 
- 3.29 


100.09 
100.76 
100.16 
103.79 


+ 
+ 
+ 
+ 


.09 

.76 

.16 

3.79 


99.91 
99.25 
99.84 
96.35 


- .09 

- .75 

- .16 

- 3.65 


486.62 
485.69 
486.21 
453.50 


- .01 

- .20 

- .09 

- 6.82 


3.921 
3.916 
3.925 
3.920 


+ .08 
- .05 

+ .18 
+ .05 


1932 
1933 
1934 


398.02 
460.73 
498.91 


-18.21 
- 5.33 
+ 2.52 


113.52 
108.74 
99.00 


+ 13.52 
+ 8.74 
- 1.00 


88.09 
91.96 

101.01 


-11.91 
- 8.04 
+ 1.01 


350.61 
423.68 
503.93 


-27.96 
-12.94 
4- 3.55 


3.928 
5.031 
6.569 


+ .26 
+28.41 
+67.67 


1935 
1936 
1937 
1938 


492.68 
497.45 
494.37 
491.62 


+ 1.24 
+ 2.22 
+ 1.59 
+ 1.02 


100.51 
100.06 
99.99 
100.56 


+ 
+ 

+ 


.51 
.06 
.01 
.56 


99.49 

99.91 

100.00 

99.42 


- .51 

- .09 

- .58 


490.18 
497.09 
494.40 
488.94 


+ .72 
+ 2.14 
+ 1.59 

+ .47 


6.601 
6.114 
4.040 

2.878 


+68.48 
+56.05 
+ 3.27 

- 6.54 


1937— Dec. 
1938— Jan. 

Feb. 

Mar. 


499.85 
500.03 
501.65 
499.84 


+ 2.71 
+ 2.75 
+ 3.08 
+ 2.71 


100.04 
100.01 

99.97 
100.2S 


+ 
+ 

+ 


.08 
.01 
.03 

.28 


99.95 
99.98 
100.02 
99.72 


- .05 

- .02 
+ .02 

- .28 


499.64 
499.98 
501.80 
498.45 


+ 2.67 
+ 2.74 
+ 3.11 
+ 2.42 


3.395 

3.335 
3.281 
3.122 


-13.35 
-14.88 
-16.26 
-20.31 


1938— Dec. 
1939— Jan. 

Feb. 

Mar ( . 3) 


471.33 
470.60 
470.86 
470.48 


- 3.15 

- 3.30 

- 3.25 

- 3.32 


100.92 
100.79 
100.49 
100.40 


+ 
+ 
+ 
+ 


.92 
.79 
.49 
.40 


99.06 

99.19 
99.50 
99.60 


- .94 

- .81 

- .50 

- .40 


467.03 
466.94 
468.56 
468.62 


- 4.03 

- 4.05 

- 3.72 

- 3.71 


2.632 
2.637 
2.647 
2.650 


-32.82 
-32.69 
-32.44 
-32.36 



(1) Except for Sterling and the U. S. Dollar in Canada in 1936 and after, which are noon middle rates, all quotations ; 
New York. (2) Based on pre-1931 pars of $4.86656, $1.00 and 3.9179 c. respectively. (3) Mar. 1 - 25. 



based on noon buying rates in 



FORWARD EXCHANGE RATES: U.S. DOLLAR IN CANADA : 1935-39 

CANADIAN DOLLARS CANADIAN DOLLARS 

I02r 




2% 

l% 

















ANNUAL INTEREST EQUIVALENT OF 3 MONTHS FORWARD PREMIUM 
MONTHLY HIGH. LOW AND AVERAGE OF DAILY FIGURES 




Su 


«•* 


\l 


" 




s 


V 




i 






HIGH ► 

AVERAGE- ► 


Vr 




V 






N 


sL ii 


/ 


^ 

w^^/ 


\ 


/ 


T i 








^v^ 


_ ^j 




I 




I 




MINIM 






IT 




Mill 



2% 
\i% 

\% 



SONDJFMAMJJASONDJFMAMJJASONDJFMA 
1937 1938 1939 

Spot rate plus premium on 3 months forward U.S. funds. (1) March 1-25. 



48 



MARCH 1939 



Millions of Dollars 



VIII EXTERNAL TRADE : MERCHANDISE IMPORTS 
VALUE BY CHIEF COMMODITY CLASSIFICATIONS 

Compiled from Trade of Canada, Dominion Bureau of Statistics 





Fruits, 
Nuts and 


Sugar 
and 


Rubber 
and 


Petroleum 

Asphalt 


Coal and 
Coke 


Textiles 


and 


Machinery 
and 


Non- 
ferrous 


Chemical 


All 


Total 




Vegetables 


Products 


Products 


Products 


Products 


Fibres 


Steel 


Vehicles 


Products 


Products 


Other 


Importsd) 


Calendar Year Totals 


























1926 


40 


38 


30 


53 


07 


184 


95 


125 


51 


31 


294 


1,008 


1027 


40 


10 


28 


54 


07 


183 


93 


1 55 


59 


33 


32S 


1,087 


1 ill'S 


51 


34 


24 


63 


(il 


202 


114 


200 


09 


37 


359 


1,222 


1929 


50 


28 


23 


78 


04 


199 


134 


208 


01 


40 


385 


1,299 


1930 


45 


27 


13 


07 


63 


149 


93 


131 


68 


37 


317 


1,008 


1931 


34 


23 


7 


41 


41 


90 


.12 


04 


39 


31 


205 


628 


1032 


27 


17 


4 


43 


35 


69 


29 


38 


99 


28 


141 


453 


L933 


22 


10 


5 


31 


31 


70 


29 


32 


18 


24 


124 


401 


1034 


20 


17 


10 


41 


40 


84 


42 


52 


20 


28 


147 


513 


L935 


28 


10 


10 


44 


38 


85 


50 


02 


34 


30 


152 


550 


1030 


33 


21 


12 


50 


40 


99 


55 


SO 


35 


32 


17S 


635 


1937 


30 


21 


10 


59 


42 


115 


80 


125 


47 


37 


221 


809 


1938 


30 


21 


11 


50 


39 


87 


58 


105 


38 


35 


197 


677 


12 Months Ending 


























Feb. 1939 (2 > 


30 


20 


12 


* 


* 


85 


50 


100 


37 


35 


* 


665 


Monthly Totals 


























1937— Dec. 


2.4 


1.3 


1.3 


2.7 


3.4 


(i.O 


4.8 


9.6 


3.5 


2.3 


15.3 


53.1 


1938— Jan. 


1.9 


.7 


.8 


2.4 


3.2 


s.o 


4.0 


s.s 


3.3 


2.1 


14.5 


49.7 


Feb. 


1.7 


.5 


.5 


2.1 


2.9 


S.O 


4.0 


8.3 


3.0 


2.3 


13.7 


47.0 


1938— Dec. 


2.1 


1.2 


1.0 


2.1 


3.0 


5.5 


3.9 


7.4 


2.0 


9 9 


13.3 


44.3 


1939— Jan. 


2.0 


.5 


1.2 


2.6 


3.0 


7.0 


3.2 


0.7 


2.4 


2.2 


12.0 


43.7 


Feb. (2) 


l.S 


.5 


1 


* 


* 


7.0 


3.0 


0.0 


2.1 


2.1 


* 


40.4 



eludes destined lor re-export. (2) Preliminary. 



MERCHANDISE IMPORTS ■ 1937-39 

PERCENTAGE INCREASE (♦) OR DECREASE C-) FROM SAME MONTH OF PREVIOUS YEAR 




40% 

20% 
+ 



20% 

40% 



n 



■AM 



"I 



20% 



40% 




J F M 

Preliminary. 



S O N D J F M 



MARCH 1939 



49 



Millions of Dollars 



VIII— EXTERNAL TRADE : MERCHANDISE EXPORTS 

VALUE BY CHIEF COMMODITY CLASSIFICATIONS 

Compiled from Trade of Canada, Dominion Bureau of Statistics 











Furs, 




Paper, 


Non-ferrous 




All 


Total Mdse. 














Skins and 




Wood Pulp 


Metals 




Exports 








Flour 


and Fish 


Cheese 


Leather 


Shingles 


and 
Pulpwood 


other than 
Gold 


Vehicles 




excluding 
Goldd) 


Gold(2) 




Calendar Year Totals 


























1926 


474 


81 


28 


34 


71 


188 


75 


60 


251 


1,261 


30 


1,292 


1927 


440 


73 


23 


42 


64 


192 


79 


55 


242 


1,211 


32 


1,243 


192S 


547 


71 


26 


46 


55 


208 


93 


59 


234 


1,339 


40 


1,380 


1929 


322 


65 


19 


38 


56 


212 


118 


75 


248 


1,152 


37 


1,190 


1930 


227 


41 


14 


25 


41 


192 


93 


37 


194 


864 


39 


903 


1931 


154 


33 


13 


18 


23 


225 


56 


14 


53 


588 


57 


645 


1932 


160 


27 


10 


14 


15 


110 


44 


12 


98 


490 


70 


560 


1933 


146 


35 


9 


18 


21 


100 


67 


15 


119 


529 


82 


611 


1934 


162 


49 


7 


20 


30 


120 


90 


28 


144 


649 


114 


763 


1935 


166 


55 


8 


23 


33 


129 


116 


38 


156 


725 


119 


844 


1936 


269 


69 


13 


27 


43 


150 


134 


36 


196 


938 


132 


1,069 


1937 


161 


85 


14 


27 


52 


190 


195 


48 


226 


997 


145 


1,143 


1938 


120 


70 


13 


21 


41 


154 


180 


43 


196 


838 


161 


998 


12 Months Ending 


























Feb. 1939°' 


114 


71 


14 


22 


43 


155 


178 


43 


195 


835 


169 


1,005 


Monthly Totals 


























1937— Dec. 


11.3 


5.9 


.4 


1.9 


3.1 


16.1 


13.1 


3.4 


19.9 


75.1 


16.4 


91.5 


1938— Jan. 


11.6 


6.5 


.1 


4.1 


3.0 


10.5 


14.6 


4.2 


15.7 


70.3 


11.0 


81.3 


Feb. 


6.0 


5.1 


.1 


2.6 


2.8 


9.6 


15.0 


4.6 


13.8 


59.6 


11.2 


70.8 


1938— Dec. 


11.1 


5.3 


1.1 


3.1 


3.4 


17.6 


12.5 


3.1 


16.7 


68.9 


11.6 


80.5 


1939— Jan. 


6.6 


7.6 


.5 


5.2 


4.1 


11.6 


14.1 


5.0 


15.4 


70.1 


18.1 


88.1 


Feb."' 


4.9 


5.1 


.7 


2.6 


3.2 


9.2 


14.2 


3.7 


14.0 


57.6 


12.9 


70.5 



(1) Exports of Canadian prodi 



(2) Net exports adjusted f<> 



rked" gold; revised figures as given on page 43. (3) Preliminary. 



MERCHANDISE EXPORTS (excluding gold) : 1937-39 

PERCENTAGE INCREASE (+) OR DECREASE (-) rROM SAME MONTH OF PREVIOUS 




50 



MARCH 193«J 



IX 



WHOLESALE PRICE INDEXES 

1926 = 100 



CANADA 

Dominion Bureau oj Statistics 





Farmt 
Products 


Raw 

Materials 


Foods 


Manu- 
factures 


Total 


Average of Mt lis. 












1926 


100.0 


100.0 


100.0 


100.0 


100.0 


1929 


100.8 


97.5 


100.0 


93.0 


95.6 


1932 


48.4 


55.0 


61.5 


69.8 


66.7 


1933 


51.0 


56.6 


63.8 


70.2 


67.1 


1934 


59.0 


63.5 


09.7 


73.4 


71.6 


1935 


63.5 


66.0 


70.4 


72.8 


72.1 


L936 


69.4 


70.8 


73.4 


73.6 


74.6 


1937 


87.0 


84.2 


81.2 


80. 4 


84.5 


1938 


73.6 


72.8 


77.4 


78.2 


78.6 


Monthly 












1938-Feb. 


85.1 


81.1 


80.7 


82.0 


83.6 


Mar. 


83.0 


79.7 


81.2 


82.0 


83.1 


Apr. 


82.5 


79.0 


80.6 


81.3 


82.3 


May 


77.3 


75. S 


78.4 


79.4 


80.3 


June 


76.6 


75.3 


79.2 


79.2 


80.1 


July 


71.5 


72.5 


79.0 


78.4 


78.6 


Aug. 


64.2 


67.5 


75. <S 


77.0 


76.0 


Sept. 


63.8 


65.6 


74.3 


75.6 


74.5 


Oct. 


63.8 


65.1 


73.0 


74.8 


74.1 


Nov. 


64.9 


64.6 


72.0 


74.0 


73.5 


Dec. 


64.6 


64.9 


75.0 


73.6 


73.3 


1939- Jan. 


64.8 


64 .8 


71.7 


73.5 


73.3 


Feb. 


64.7 


64.9 


71.9 


73.6 


73.2 



U.K. 


Board of Trade 1 " 


Foods 


Total 


100.0 


100.0 


93.9 


92.1 


71.8 


69.1 


67.8 


69.2 


69.5 


71.1 


71.0 


71.8 


75.0 


76.2 


83.7 


87.8 


79.7 


81.9 


84.6 


85.4 


82.4 


84.0 


82.0 


83.2 


82.1 


82.3 


81.3 


81.3 


80.0 


81.2 


77.5 


80.3 


7.">. 2 


79.4 


75.7 


80.0 


74.1 


79.4 


75.1 


79.3 


75.7 


78.4 


74.5 


78.1 



U.S.A. 

bureau of Labour 



Farm 
Products 


Raw 

Materials 


Foods 


Manu- 
factures 
(2) 


Total 


100.0 


100.0 


100.0 


100.0 


100.0 


104.9 


97.5 


99.9 


94.5 


95.3 


48.2 


55.1 


61.0 


70.3 


64.8 


51.4 


56.5 


60.5 


70.5 


65.9 


65.3 


68.6 


70.5 


78.2 


74.9 


78.8 


77.1 


83.7 


82.2 


80.0 


80.9 


79.9 


82.1 


82.0 


80.8 


86.4 


84.8 


85.5 


87.2 


86.3 


68.5 


72.0 


73.6 


82.2 


78.6 


69.8 


73.6 


73.5 


83.3 


79.8 


70.3 


73.2 


73.5 


83.4 


79.7 


68.4 


71.3 


72.3 


82.7 


78.7 


67.5 


70.7 


72.1 


82.1 


78.1 


68.7 


71.4 


73.1 


82.2 


78.3 


69.4 


72.3 


74.3 


82.5 


78.8 


67.3 


71.4 


73.0 


81.8 


78.1 


68.1 


72.0 


74.5 


81.8 


78.3 


66.8 


70.9 


73.5 


81.1 


77.6 


67.8 


71.5 


74.1 


80.5 


77.5 


67. (i 


70.9 


73.1 


80.2 


77.0 


67.2 


70.9 


71.5 0) 


80.0 


76.9 


07.2 


70.9 


71.5 


80.2 


76.9 



INDEXES OF WHOLESALE PRICES. COST OF LIVING AND WAGE RATES 1926-38 




1926 1927 1928 1929 1930 1931 1932 1933 1934 1935 1936 1937 1938 1939 



t Dept. of Labour general average weighted index 1913 = 100 adjusted to l'>26=100. 

* Hourly Wage Rate Index is not included because figures are available only on an annual average 



51 



INDEXES OF HOURLY WAGE RATES 

Department of Labour 
1926 = /00<» 





Building 


Metal 


Printing 


Electric 


Steam 


Coal 


Factory 


Misc. 
Factory 
Trades 


Logging 
and 

Saw-Milling 


Total 




Trades 


Trades 


Trades 


Railways 


Railways 


Mining 


Labour 


Index 


1920 


105.1 


118.0 


95.2 


103.1 


118.6 


118.1 


114.9 


110.2 


112.1 


111.5 


1921 


99.1 


105.3 


100.0 


102.0 


105.1 


124.4 


101.8 


102.7 


84.4 


101.9 


1922 


94.4 


97.9 


99.5 


97.9 


9S. 9 


118.2 


97.7 


96.1 


87.8 


96.7 


1923 


96.7 


98.1 


97.7 


98.8 


100.0 


118.2 


97.0 


99.7 


94.2 


98.9 


1924 


98.6 


98.9 


99.3 


98.9 


100.0 


114.9 


97.8 


100.5 


101.3 


100.1 


1925 


99.0 


98.9 


99.7 


99.7 


100.0 


100.1 


99.5 


99.4 


98.8 


99.4 


1926 


100.0 


100.0 


100.0 


100.0 


100.0 


100.0 


100.0 


100.0 


100.0 


100.0 


1927 


104.2 


100.4 


100.9 


100.8 


106.4 


100.3 


100.2 


101.4 


101.1 


102.2 


1928 


107.8 


101.5 


102.6 


103.0 


106.4 


100.9 


99.9 


102.1 


101.9 


103.2 


1929 


114.8 


104.1 


104.7 


105.4 


109.6 


100.9 


100.3 


102.7 


102.7 


105.2 


1930 


118.1 


105.2 


105.2 


105.8 


109.6 


101.2 


100.5 


102.8 


101.7 


105.8 


1931 


113.7 


103.1 


106.1 


105.4 


106.9 


101.2 


97.9 


100.3 


90.2 


101.5 


1932 


103.5 


98.5 


100.5 


101.4 


98.7 


98.0 


92.7 


93.7 


78.2 


95.4 


1933 


91.8 


95.4 


95.3 


97.0 


96.4 


96.7 


89.7 


89.3 


67.3 


90.3 


1934 


89.9 


94.7 


94.9 


96.8 


93.2 


97.3 


91.2 


91.8 


80.3 


91.5 


1935 


92.9 


95.7 


95.4 


97.5 


98.7 


99.0 


93.4 


93.9 


84.2 


94.1 


1936 


93.4 


95.9 


95. S 


98.5 


98.7 


99.1 


95.9 


96.0 


91.8 


95.9 


1937 


96.0 


105.6 


97.2 


101.1 


105.2 


99.6 


104.4 


103.6 


104.0 


102.9 


1938 


98.4 


106.7 


98.7 


102.8 


109.6 


104.2 


106.6 


106.9 


109.1 


107.0 



(lj Base 1913 adjusted to 1926= 100 



INDEX OB PER CENT 

120 



INDEXES OF HOURLY WAGE RATES: 1926-38 

ANNUAL AVERAGE FIGURES 



100 



80 





X^ .- TOTAL 


INDEX f 




\^T or HOORL^WAGE RATES J 


\ 
\ 

\ 
\ 
\ 


\\ 




\*- COST OF LIVING INDEX 




Z-P 




* \^r 




PERCENTAGE OF ~-^\ / 




WAGE-EARNERS EN 


1PLOYED \_^ ' 


1 



INDEXES: 1926=100 

120 





\_^- — BUILDI 


MG TRADES 




JuZMW. TRADES -\ 




/ 


^^f==^ 


V \ 








^V ^v\ 


K 






* \ V 


— J* s 






* \ v**** 








* Y \ 








* %, v ^ 


stri 






* /S>^ / 






\' FACTORY LABOUR / 




\ 


t 




\ 


/ 






\ 
\ 


f 






^ 7 






LOGGING 8. SAW r 


/IILLING*-\ t 

V 




i 



100 



80 



1926 '27 '28 29 30 '31 '32 '33 '34 '35 '36 '37 '38 1926 '27 '28 '29 30 "31 '32 '33 '34 '35 '36 '37 '38 



PRIL 1939 



52 



Millions of Dollars 

450 



BANK OF CANADA 

SOURCES AND DISTRIBUTION OF CASH 

MONTHLY AVERAGE OF WEDNESDAY FIGURES 



Millions of Dollars 

450 




53 



Millions of Dollars 



APRIL 1939 
I-BA 





LIABILITIES 




Chartered Bank Cash 


Govt. 
Deposits 


Other 
Deposits 


Active 

B. of C. 

Note 

Circulation 


All 

Other 

Accounts 


Tota 

Asset 

or 

Liabili 




Notes 
in Tills 


Deposits 

at 
B. of C. 


Total 


Average of 
Wednesday Figures 

1935- 9 Mths. 


37.2 


176.5 


213.7 


23.9 


.7 


48.9 


6.8 


294.1 


1936-12 Mths. 


40.4 


184.7 


225.1 


22.5 


1.0 


64.0 


9.4 


322.1 


1937-12 Mths. 


49.8 


191.4 


241.2 


25.8 


1.2 


90.6 


13.5 


372.1 


1938-12 Mths. 


56.0 


199.6 


255.6 


22.8 


2.1 


105.9 


12.5 


399.1 


1938— Mar. 


49.6 


193.2 


242.8 


23.4 


2.6 


100.0 


13.6 


382.^ 


Apr. 


52.8 


190.7 


243.5 


20.3 


2.7 


101.9 


13.8 


382.: 


May 


54.9 


193.3 


248.2 


16.4 


2.8 


102.1 


14.4 


383.! 


June 


53.0 


190.8 


243.8 


42.4 


2.1 


101.4 


15.1 


404.1 


July 


55.1 


192.6 


247.7 


16.0 


2.0 


101.3 


13.7 


3807 


Aug. 


55.4 


199.8 


255.2 


13.3 


1.6 


104.3 


12.9 


387.1 


Sept. 


60.2 


205.5 


265.7 


21.4 


1.0 


111.5 


9.3 


408.! 


Oct. 


62.0 


216.2 


278.2 


28.6 


1.4 


118.4 


9.5 


436.' 


Nov. 


58.3 


219.9 


278.2 


26.6 


1.5 


116.4 


10.5 


433.; 


Dec. 


59.6 


204.6 


264.2 


28.4 


2.3 


115.6 


10.1 


420.( 


1939— Jan. 


61.1 


210.4 


271.5 


23.6 


3.3 


107.5 


10.1 


416. 


Feb. 


53.4 


207.0 


260.4 


31.8 


3.1 


106.0 


10.4 


4ii.; 


Mar. 


52.1 


205.3 


257.4 


19.3 


4.3 


107.2 


9.1 


397.; 


Wednesdays 

Apr. 5 


53.3 (2> 


204.9 


258.2 (2) 


17.9 


6.9 


110.9 (2) 


8.7 


402.; 


12 


56.1 C2) 


202.5 


258.6 (2) 


18.5 


7.7 


110.5' 2 ' 


9.0 


404.: 


19 


54.7 (2) 


202.2 


256.9 (2) 


21.6 


9.0 


111.5"' 


9.6 


408.; 


26 


57.2 (2) 


205.0 


262.2 <2 > 


23.5 


8.6 


107.7 (2) 


8.6 


410.! 



(1J Includes "Other Securities" 



(2) Estimates. 



CHARTERED BANKS : DISTRIBUTION OF TOTAL ASSETS; 1926-39 



BILLIONS OF DOLLARS 

4 



MONTH-END FIGURES 



BILLIONS OF DOLLARS 
4 




1926 1927 1928 1929 1930 1931 1932 1933 1934 1935 1936 1937 



936 1939 



APRIL 1939 
IANADA 



54 



Millions of Dollars 



ASSETS 








Reserve 








Securities 




Advances 


All 

Other 

Accounts 




1 


Silver 


Foreign 
Currencies 


Total 
Reserve 


Reserve 
Ratio 


Dom.-Prov. 
Short 


Dom.-Prov. 
Long 


Total<'> 
























Average of 
Wednesday Figures 


6 


1.4 


10.3 


166.2 


57.87 


25.6 


94.0 


119.6 


4.1 


4.0 


1935- 9 Mths 


7 


1.8 


11.4 


192.9 


61.69 


37.0 


86.3 


123.2 


1.7 


4.2 


1936-12 Mths 





2.5 


20.4 


204.8 


57.11 


57.9 


98.4 


162.2 


- 


5.1 


1937-12 Mths 





.9 


28.7 


210.6 


54.50 


122.5 


53.0 


181.2 


.9 


6.3 


1938-12 Mths 


2 


3.0 


22.3 


205.5 


55.72 


119.3 


41.5 


173.1 


_ 


3.8 


Mar.— 1938 


7 


1.8 


21.5 


204.0 


55.37 


116.3 


41.5 


170.1 


2.8 


5.4 


Apr. 


3 


.4 


24.4 


206.1 


55.78 


120.7 


39.0 


170.9 


- 


7.0 


May 


9 


- 


37.7 


219.6 


56.34 


113.3 


51.9 


171.3 


- 


14.0 


June 


8 


- 


26.5 


207.3 


56.48 


114.5 


52.5 


167.8 


- 


5.6 


July 


5 


- 


26.0 


206.5 


55.17 


121.3 


52.5 


173.8 


- 


6.9 


Aug. 


5 


- 


32.9 


214.4 


53.65 


139.8 


48.9 


188.7 


- 


5.8 


Sept. 


4 


- 


36.2 


217.6 


51.02 


161.9 


46.1 


208.0 


4.8 


5.6 


Oct. 


2 


- 


39.8 


220.9 


52.27 


162.2 


42.5 


204.7 


2.0 


5.6 


Nov. 


4 


- 


40.9 


223.3 


54.40 


151.0 


40.5 


191.4 


- 


5.9 


Dec. 


4 


- 


31.1 


219.5 


54.09 


140.1 


41.6 


181.7 


_ 


14.7 


Jan.— 1939 


13 


- 


42.1 


236.8 


59.01 


128.8 


39.1 


167.9 


- 


7.0 


Feb. 


6 


- 


32.3 


233.9 


60.26 


129.8 


28.6 


158.4 


- 


5.0 


Mar. 

Wednesdays 


7 


- 


32.5 


236.2 


59.95 


132.8 


27.5 


160.2 


- 


6.2 


Apr. 5 


4 


- 


31.1 


237.6 


60.09 


132.8 


28.0 


160.8 


- 


5.9 


12 


2 


- 


33.7 


239.9 


60.12 


134.7 


29.3 


164.0 


- 


4.8 


19 


2 


- 


35.6 


241.8 


60.16 


134.7 


29.4 


164.0 


- 


4.7 


26 



CHARTERED BANKS = DISTRIBUTION OF TOTAL LIABILITIES : 1926-39 



BILLIONS OF DOLLARS 

4 



MONTH-END FIGURES 



BILLIONS OF DOLLARS 

4 




1926 1927 



55 



Millions of Dollars 



APRIL 1939 

II— CHAI 

Ba 





LIABILITIES 




Notes 






Deposits 






Cash 

in 
Canada ' 


Securities 




Demand 


Time 


Dom. 


Canadian 


Foreign 


Total 


DOM.-PROV. 

Oi 










and Prov. 


Deposits 10 


Deposits" 1 


Short 1 Long 


Average of 




















Month-end Figures 




















1926 


169 


553 


1,341 


53 


1,958 


330 


2,333 


197 


344 1 


1929 


178 


696 


1,480 


102 


2,293 


418 


2,837 


212 


342 | 


1932 


132 


486 


1 ,376 


82 


1 ,955 


312 


2,322 


186 


490 


1933 


130 


489 


1,379 


62 


1,941 


30S 


2,290 


195 


027 


1934 


136 


514 


1,373 


60 


1,900 


322 


2,317 


203 


084 


1935 


126 


569 


1,445 


05 


2,104 


348 


2,476 


216 


407 


454 1 


1936 


119 


618 


1,518 


77 


2,245 


401 


2,668 


225 


447 


028 2 


1937 


110 


691 


1,574 


90 


2,382 


421 


2,840 


240 


445 


674 3 


1938 


100 


690 


1,630 


94 


2,449 


408 


2,892 


252 


447 


090 2 


End of 






















1938— Mar. 


100 


048 


1 ,023 


07 


2,379 


399 


2,808 


242 


459 


685 2 


Apr. 


100 


687 


1,031 


96 


2,445 


398 


2,884 


243 


401 


094 3 


May 


97 


670 


1 ,025 


107 


2,438 


404 


2,880 


241 


448 


700 3 


June 


104 


690 


1,021 


148 


2,484 


410 


2,939 


242 


437 


719 3 


July 


101 


671 


1 ,023 


101 


2,445 


397 


2,862 


235 


422 


717 S 


Aug. 


99 


687 


1,035 


90 


2,400 


400 


2,878 


257 


435 


710 2 


Sept. 


104 


725 


1,033 


89 


2,492 


425 


2,937 


264 


445 


684 2 


Oct. 


101 


749 


1,050 


75 


2,518 


419 


2,961 


286 


451 


069 2 


Nov. 


97 


750 


1 ,055 


94 


2,500 


436 


3,004 


271 


448 


693 2 


Dec. 


95 


734 


1,660 


100 


2,498 


420 


2,986 


257 


409 


093 3 


1939— Jan. 


90 


700 


1,667 


90 


2,501 


430 


2,954 


269 


404 


097 I 


Feb. 


94 


690 


1,691 


89 


2,514 


432 


2,974 


201 


4S1 


711 2 


Mar. 


97 


705 


1,700 


80 


2,538 


452 


3,021 


253 


528 


071 3 



(1) Estimated month-end deposits payable in Canadian currency. (2) Includes inter-bank deposits. 

(3) Until March 1935; Gold and Coin in Canada, Dominion Notes and "Free" Central Gold Reserve Deposits, after that date: Bank of Canada Notes and Deposits 



CHARTERED BANKS: PERCENTAGE DISTRIBUTION OF TOTAL ASSETS : 1926-39 

MONTH- END FIGURES 



100% 




APRIL 1939 



56 



BANKS 



Millions of Dollars 



140 
267 
117 
102 

102 
82 
93 

107 

67 

63 
64 
66 
69 
71 
71 
60 
66 
64 
65 

63 
60 

56 



934 
1 ,343 
1,032 

907 

869 
829 
699 
732 

786 

752 
770 
769 
786 
786 
781 
829 
848 
837 
806 

792 
787 
801 



87 
112 
165 
147 

145 
134 
121 
117 
129 

118 
136 
130 
135 
134 
132 
136 
137 
133 
134 

127 
133 
142 



250 

301 

84 

92 

107 
72 
64 
68 
51 

51 
50 
58 
53 
53 
55 
45 
52 
48 
51 



261 
248 
172 

148 

138 
146 
150 
165 

158 

169 
160 
162 
181 
152 
144 
143 
142 
148 
152 

148 
145 
144 



Total 
Assets 



2,864 
3,528 
2,869 
2,831 

2,838 
2,957 
3,145 
3,317 
3,349 

3,266 
3,337 
3,332 
3,399 
3,322 
3,334 
3,400 
3,424 
3,455 
3,431 

3,396 
3,421 
3,471 



DAILY AVERAGE DATA 




Cash 




Ratio of 


Total 




Canadian 


Cash to 


Active 




Canada ' 


Deposits* 4 ' 


Deposits in 


Note 






Canada 


Circulation 15 ' 












Average of 










Daily Figures 


192 


1,958 


9.8 


195 


1926 


191 


2,293 


8.3 


205 


1929 


172 


1,955 


8.8 


158 


1932 


189 


1,941 


9.8 


157 


1933 


201 


1,966 


10.2 


163 


1934 


213 


2,108 


10.1 


169 


1935 


225 


2,213 


10.2 


182 


1936 


240 


2,357 


10.2 


200 


1937 


254 


2,412 


10.5 


205 


1938 


242 


2,331 


10.4 


199 


Mar.-1938 


240 


2,382 


10.1 


203 


Apr. 


247 


2,401 


10.3 


199 


May 


243 


2,421 


10.0 


200 


June 


245 


2,444 


10.0 


201 


July 


254 


2,426 


10.5 


201 


Aug. 


263 


2,442 


10.8 


214 


Sept. 


277 


2,474 


11.2 


220 


Oct. 


279 


2,487 


11.2 


214 


Nov. 


261 


2,473 


10.6 


216 


Dec. 


269 


2,473 


10.9 


195 


Jan.— 1939 


260 


2,466 


10.6 


197 


Feb. 


257 


2,485 


10.3 


201 


Mar. 



1936 and after. 



CHARTERED BANKS: PERCENTAGE DISTRIBUTION OF TOTAL LIABILITIES: 1926-39 

MONTH-END riGURES 



100% 



75% 




57 



APRIL 1939 









III— SECURITY 


PRICES 
















Bank of Canada 








Average of 


Government Bonds 

Middle Prices and Yields 


Treasury Bills 

Three Months 

Average Yield of Successful 
Tender s <4) 


Working Days 


Canada* (1) 


U. K.* < 2 > 


U.S.A.* e> 


Canada 


U.K 


U.S.A. 




Price 


Yield 


Price 


Yield 


Price 


Yield 


1938 


99.71 


3.15 


100.79 


3.41 


103.51 


2.61 


.590 


.614 


.055 


1938— Mar. 
Apr. 

May 
June 
July 


99.14 

99.85 

100.35 

100.27 

100.07 


3.19 
3.14 
3.10 
3.11 
3.12 


100.82 
101.39 
101.51 
101.70 
102.50 


3.42 
3.38 
3.37 
3.35 
3.28 


102.50 
102.66 
103.99 
103.94 
103.99 


2.69 
2.68 
2.58 
2.58 

2.58 


.524 
.503 
.471 
.465 
.489 


.506 
.512 
.504 
.574 
.522 


.070 
.061 
.027 
.016 
.054 


Aug. 

Sept. 

Oct. 

Nov. 

Dec. 


99.92 
98.49 
99.57 
100.57 
100.87 


3.13 
3.23 
3.16 
3.09 
3.06 


101.99 
98.26 
99.44 
99.42 
97.99 


3.32 
3.56 
3.52 
3.52 
3.57 


104.19 
103.26 
104.44 
104.17 
104.36 


2.56 
2.63 
2.54 
2.56 
2.55 


.519 
.608 
.747 
.693 
.672 


.506 
.945 
.773 
.526 
1.003 


.047 
.106 
.018 
.027 
.013 


1939— Jan. 
Feb. 
Mar. 

Apr. (5) 


100.86 
101.19 
101.47 
100.82 


3.06 
3.04 
3.01 
3.06 


96.97 
96.80 
96.07 
93.00 


3.61 
3.62 
3.64 
3.76 


104.74 
105.15 
106.47 
107.06 


2.52 
2.48 
2.39 
2.34 


.690 
.681 
.665 
.636 


.534 

.503 

.506 

1.514 


Nil 
.005 
Nil 
.025 



* Differing coupon rates and maturity provisions, and the fact that the U. S. Treasury issue is exemj 
comparison of absolute yield levels. 

(1) Average of Dominion of Canada 3% due June 1, 1950-55 and i%% due June 1, 1956-66. 

(2) United Kingdom iVi% "War Loan" due Dec. 1, 1952 and after; price excluding accrued interest. 

(3) U. S. Treasury 1H% due Mar. 15, 1955-60. 

(4) On for nearest to) 15th of each month. (5) Average April 1 - 25 for Bond Prices and Yields. 



LONG TERM DOMESTIC GOVERNMENT BOND YIELDS : CANADA, U.K. & U.S.A. : 1938-39 



2 50% 



350% 




♦See note above. (1) April 25. 



1939 



375% 



MAY JUNC 



APRIL 1939 



58 



III— SECURITY PRICES 

Bank of Canada 



Government Bonds Payable Elsewhere Than in Canada 
Middle Prices and Yields 





U.S. Treasury 


United Kingdom 


Dominion 


of Canada 


Dominion Guaranteed C.N.R. 




2J- 8 %dueMar.l5, 


3^% due Dec. 1, 


314% due 


Jan 15, 


3}^% due May 1, 


4^% due Feb. 1, 


^A% due July 1, 




1955-60 


1952 and after 


1956-61 


1950-55 


1956 


1957 


Working Days 










Payable in 


Payable in 


Payable in 


Canada, 


Payable in 








New York only 


London only 


New York or London 


Canada or 


*Jew York 




Price 


Yield' 1 ' 


Price"' 


Yield™ 


Price 


Yield 


Price" 


Yield™ 


Price"' 


Yield 


Price 


Yield 


1936 


102.25 


2.72 


106.02 


3.03 


101.51* 


3.15* 


102.43 


3.03 


114.96 


3.44 


113.29 


3.59 


1937 


101.56 


2.76 


101.18 


3.40 


99.52 


3.28 


99.88 


3.25 


113.18 


3.53 


112.48 


3.62 


1938 


103.51 


2.61 


100.79 


3.41 


102.37 


3.07 


100.06 


3.24 


115.63 


3.32 


115.13 


3.41 


1938-Mar. 


102.50 


2.69 


100.87 


3.42 


101.62 


3.13 


99.19 


3.31 


115.22 


3.36 


114.40 


3.47 


Apr. 


102.66 


2.68 


101.39 


3.38 


100.91 


3.18 


99.91 


3.26 


115.22 


3.36 


114.44 


3.46 


May 


103.99 


2.58 


101.51 


3.37 


102.27 


3.07 


100.63 


3.19 


116.32 


3.28 


115.54 


3.39 


June 


103.94 


2.58 


101.70 


3.35 


102.56 


3.06 


101.00 


3.15 


116.60 


3.26 


115.81 


3.37 


July 


103.99 


2.58 


102.50 


3.28 


102.98 


3.03 


101.20 


3.13 


116.22 


3.28 


115.54 


3.38 


Aug. 


104.19 


2.56 


101.99 


3.32 


103.48 


2.99 


100.98 


3.15 


116.05 


3.29 


115.51 


3.38 


Sept. 


103.26 


2.63 


98.26 


3.56 


102.39 


3.07 


98.62 


3.36 


114.31 


3.40 


113.84 


3.49 


Oct. 


104.44 


2.54 


99.44 


3.52 


102.85 


3.04 


99.82 


3.27 


115.61 


3.31 


115.30 


3.39 


Nov. 


104.17 


2.56 


99.42 


3.52 


103.47 


2.99 


99.78 


3.27 


116.40 


3.25 


116.46 


3.31 


Dec. 


104.36 


2.55 


97.99 


3.57 


103.53 


2.99 


99.45 


3.29 


116.07 


3.27 


116.35 


3.31 


1939-Jan. 


104.74 


2.52 


96.97 


3.61 


104.01 


2.95 


99.60 


3.28 


116.24 


3.25 


116.37 


3.31 


Feb. 


105.15 


2.48 


96.80 


3.62 


104.04 


2.95 


98.60 


3.36 


116.35 


3.24 


116.43 


3.30 


Mar. 


106.47 


2.39 


96.07 


3.64 


103.43 


2.99 


98.47 


3.37 


116.52 


3.22 


116.46 


3.30 


Apr. (4) 


107.06 


2.34 


93.00 


3.76 


102.63 


2.97 


97.37 


3.47 


115.66 


3.28 


115.60 


3.35 



(1) These issues are quoted in London to include accrued interest but are given here excluding interest. (2) Exempt from "normal" Federal Income and 
certain State taxes. (3) Price in Toronto in Canadian funds. (4) Average April 1-25. * As from date of issue, Jan. 15, 1936. 



LONG TERM DOMESTIC GOVERNMENT BOND YIELDS: CANADA, U.K. & U.S.A.: 1927-39 



2% 



3% 



4% 



5% 



6% 



2% 



3% 



4% 



5% 



6% 



UNITED STATES 







tCanada : Based on D.B.S. Index of Long Term Govt. Bond Yields. U.K. : 3)i% "Conversion" due Oct. 1, 1961 and after. U.S.A. : average of yields 
of all outstanding U.S. Treasury Bonds due or callable after 12 years. *See note on opposite page. 



59 



APRIL 1939 



IV— PUBLIC FINANCE : 
Receipts and Asset or Debt Decreases are in black. 

Compiled from Dominion 



DOMINION GOVERNMENT % 

Disbursements and Asset or Debt Increases are in red. 

Public Accounts and Budget Speeches 



Millions of Dollars 



(1) 



Ordinary Revenue 

Income Tax 

Sales Tax 

Other Excise Taxes 

Excise Duties 

Customs Import Duties 

Tax on Gold 

Post Office Department 

Interest on Investments 

All Other Ordinary Revenue . . . 

Total 

Ordinary Expenditure 

Interest on Public Debt 

Cost of Loan Flotations 

Subsidies to Provinces 

Interim Grants to Provinces 

Old Age Pensions Subventions to Provs. 

National Defence Department 

Soldiers' Pensions and After-Care 

Public Works Department 

Post Office Department 

Payt. to Maintain Annuities Reserve. . . 

All Other Ordinary Expenditure 

Total 

Other Expenditure 

Unemployment and Agricultural Relief. . 

C.N.R. Deficit 

Other Deficits and Non-Active Loans (e) . 

Capital Expenditure (Net) 

Special Defence Expenditure 

Total Expenditure ( 2 ) 

Wheat and Oats Operations (3) 

Special Revenue ( 4 ) 

Excess of Expenditure over Revenue 

(Net of Items 1 to 4) 

Write-Down of Active Assets to Net Debt. 

Write- Up of Active Assets from Net Debt . 

Deficit ( = Increase in Net Debt) 

Active Assets: Increase or Decrease 

Loans to Provinces re Relief 

Loans to Canadian Farm Loan Board. . . 

Loans to National Harbours Board 

Loans to C.N.R 

Loans to C.P.R 

Post War Housing Loans 

Loans: Dom. & Nat. Housing Acts 

Loans: Mun'c'p'l Impr't Assistance Act. 

Railway Equipment Purchased 

Other Loans and Investments (Net) . . . . 

NetofW rite-Downs &Wrilc- Ups (as above) 

Bank of Canada Stock 

Unamortized Debt Discount & Comm'n . 
Cash and Current Accounts 



Change in Gross Direct Debt less Sinking Fund 



During Fiscal Years Ending March 31 



1934 



61.4 
61.4 
45.2 
35.5 
66.3 

30.9 

11.1 

11.0 

322.8 

139.7 

2.6 

13.7 

1.6 

12.3 

13.4 

52.5 

10.8 

30.6 

.2 

73.1 

350.5 

36.9 (< 

58.7 
2.4 
6.5 

455.0 



131.8 



1.7 
133.5 

13.1 

.4 
1.7 
2.6 



.8 
1.7 



4.9 
.5 



153.0 



1935 



66.8 
72.4 
39.7 
43.2 
76.6 
3.6 
31.3 
11.0 
12.4 
357.0 

138.5 

2.9 

13.8 

1.6 

14.9 

14.0 

53.4 

9.9 

30.3 

.1 

78.8 

358.2 

60.7 

48.0 

2.1 

7.0 

476.0 

3.4 



15.6 



116.1 

22.9 

A 
A 

Hi. 6 



S.7 
9.9 



174.0 



1936 



82.7 
77.6 
35.2 
44.4 
74.0 
1.4 
32.5 
10.6 
12.2 
370.6 

134.5 

3.6 

13.8 

4.0 

16.8 

L6.6 

53.9 

12.9 

31.4 

.3 

83.2 

371.0 

79.4 

47.1 

3.9 

6.5 

507.9 

22.6 
.3 



159.6 



160.0 

42.3 

7.9 
1.4 
3.7 
1.3 
3.0 
.1 

7.2 
.6 



5.8 
.3 



226.0 



1937 



102.4 

112.8 

39.6 

46.0 

83.8 

34.3 

11.2 

13.9 

444.0 

137.4 

3.8 

13.7 

3.2 

21.1 

21.7 

54.4 

14.5 

31.9 

.5 

83.7 

386.1 

78.0 

43.0 

1.2 

2.9 

511.2 

8.0 
.5 

58.7 

19.2° 

77.9 



15.5 

11.0 
.3 

4.6 



2.0 
1.0 

5.1 
.6 

19.2" 
5.1 
4.4 
6.9 



110.6 



1938 



120.4 

138.1 

42.8 

52.0 

93.5 

35.6 

13.1 

14.8 

510.3 

132.1 

4.6 

13.7 

7.5 

28.7 

32.8 

54.3 

12.4 

33.8 

8.9 

86.1 

414.9 

68.5 

42.0 

2.8 

2.9 

531.1 

3.0 



17.8 



.9 

1.0 

17.7 

16.3 
3.8 
1.9 

27.4 

.2 

1.4 

1.7 

.1 
1.9 



1.6 

27.4" 



11.3" 



1939< a > 



142.0 
119.5 
42.2 
51.3 

78.8 

35.3 

13.2 

15.2 

497.5 

12S.0 
5.0 
13.8 
7.5 
29.1 
35.2 
55.8 
15.7 

;•>."). 7 

90.6 
416.4 

4S.6 

54.3 

4.6 

4.6 

528.5 

25.0 
1.3 



54.7 



1.0 



55.7 



15.1 



.7 
3.9 



1.4 



1.0 
.8 



31. 1« 



10. 



1 940<»> 



140.0 

126.0 

27.0 

52.5 

78.0 

35.6 

13.6 

15.3 

488.0 

129.4 
4.8 
13.7 
5.5 
30.5 
34.0 
58.1 
12.5 
37.8 

95.1 
421.4 

74.6 

43.8 

2.8 

7.6 

29.1 

579.6 

* 

2.0 



t Certain adjustments have been made in the published figures in order to place them on a comparable basis during tin period under review, (a) As given in the 
Budget Speech for 1939/40. (c) Includes SI mm. non-active loan to C.P.R., made under Relief Act of 19,!2. (e) Relating to P.E.I. Car I-erry and Terminals, 
CN. Steamships, Nat. Harbours Board, and Trans-Canada Air Lines, (h) The write -down includes Six. 5 mm. irurn Loans to Provinces re Relief, (k) rrom 
19.W Cash an amount of $9.0 mm., which was being held in suspense in connection with the London loan .,1 1st July. I'».i8, has been excluded. In the table on the 
following page a corresponding adjustment has been made in the case of All Other Liabilities. *No estimates available. 



APRIL 1939 



60 



IV— PUBLIC FINANCE : DOMINION GOVERNMENT 
Debt Decreases are in black. Debt Increases are in red. 

Compiled from Dominion Public Accounts and Budget Speeches 



Increases or Decreases 




During Fiscal Years Ending March 31 


Millions of Dollars 


1934 


1935 


1936 


1937 


1938 


1939(a) 


Dominion Direct Debt 


104.4 
35.4 

139.8 

5.9 
5.1 

2.2 

153.0 

.5 

153.5 

2.9 


98.7 
6.3 

105.0 

11.9 

5.0 

51.5 (e) 

.6 

174.0 

9.9 

164.1 

6.0 


14.5 
214.1 

199.6 

19.5 

4.9 

2.0 

226.0 

.3 

225.7 

7.2 


78.6 
152.3 

73.7 

21.5 
4.8 
4.0 (h > 
6.6 

110.6 
6.9 

103.7 
8.8 


40.2 

72.7 

32.5 

19.7 

4.7 

4.0 (h) 

.8 (k) 

11.3 k) 

27.4 (k) 

16.1 

47.3 


(Preliminary) 

105.3 




171.2 


Total 


• (1) 


65.9 

14.1 




4.6 




25.0 (i) 


All Other Liabilities 


1 2°° 


Gross Direct Debt less Sinking Fund (see opp. pas 
Inc. or Dec. in Cash & Current Accts. (see opp. 
Gross Direct Debt less S. F. & Cash Assets .... 

Dominion Guaranteed Bonds 


e). . 
page) 

.(2) 


no.* 10 

31.1 (k) 
79.7 

34.9 




150.6 


158.1 


232.9 


112.5 


63.4 


114.6 






C.N.R. Bonds Not Guaranteed by Dominion^ 

Serial Equipment Trust Issues 

All Other Issues, less all C.N.R. Sinking Funds 


.(3) 
.(4) 


4.5 
4.5 


4.5 
6.3 


4.3 
.9 


4.3 
9.1 


10.0 
1.1 


1.9 

34.0 



By Currency of Payment: (l)+(2)+(3)+(4) 

Canadian Dollars only 

U.S. Dollars only 

Can. or U.S. Dollars 

Can. or U.S. Dollars, or Sterling 

Sterling^ 

Total 



127.9 



69.1 


90.6 


5.6 


1.3 


2.6 


19.5 


.7 


3.5 


67.7 


21.9 



257.7 
12.8 
29.2 
35.0 

4.7 



201.6 



112.4 
56.9 
88.7 

11.5 



69.1 



38.8 
1.0 
7.2 

4.7 



25.9 



95.8 
16.7 
2.4 
12.3 
29.1 



68.7 



(a) and (k) See corresponding notes on page 59. (c) Includes all bonded debt originally issued for a term of three years or less, (e) Increase in fiduciary note 
issue under terms of Dominion Notes Act as amended in June 1934. (h) Deposit and withdrawal of surplus funds by Canadian Wheat Board, (i) Liability 
for wheat losses pertaining to 1938/9 fiscal year as per opposite page, (n) Calendar year figures adjusted to approximate fiscal year basis by known issues 
and redemptions. No contingent liabilities of the C.N.R. arc included, (o) Including bonds payable optionally in sterling or Canadian dollars. 



PUBLIC FINANCE = DOMINION GOVERNMENT: 1933/34-1939/40 

MILLIONS OF DOLLARS FISCAL YEARS ENDING MARCH 31 MILLIONS OF DOLLARS 




1934 1935 1936 1937 1938 1939 1940 

*Estimated total excess of expenditure over revenue is not shown because no estimates of wheat loss is available. 
tNo estimate of direct & guaranteed debt increase is available. 



61 

























APRIL 1939 






















V— DIRECT RELII 


Thousands of Persons 






















Depart 




URBAN 




Fully 
Employable 


All De- 
pendents 
of Fully 
Employ- 
able 
Family 
Heads 


Total 


Partially 
Employable 


All De- 
pendents 

Partially 
Employ- 
able 
Family 
Heads 


Total 


Unemployable 


All De- 
pendents 

of 
Unemploy- 
able 
Family 
Heads 


Totai 




Individual 
Persons 


Heads of 
Families 


Individual 
Persons 


Heads of 
Families 


Individual 
Persons 


Heads of 


Annual Average 

1933 


* 


* 


* 


* 


* 


* 


* 


* 


* 


* 


* 


* 


1934 


* 


* 


* 


* 


* 


* 


* 


* 


* 


* 


* 


* 


1935 


* 


* 


* 


* 


* 


* 


* 


* 


* 


* 


* 


* 


1936 


* 


* 


* 


* 


* 


* 


* 


* 


* 


* 


* 


* 


1937 


29 


113 


389 


530 


11 


19 


57 


87 


8 


10 


25 


43 


1938 


21 


98 


332 


450 


11 


15 


39 


65 


8 


10 


25 


43 


Monthly 

1936— Sept. 


29 


121 


422 


571 


10 


20 


60 


90 


8 


10 


27 


46 


Oct. 


32 


124 


433 


590 


11 


20 


62 


93 


9 


11 


27 


47 


Nov. 


36 


128 


445 


608 


11 


21 


63 


96 


9 


11 


28 


47 


Dec. 


39 


138 


480 


657 


12 


22 


67 


101 


9 


11 


28 


48 


1937— Jan. 


41 


148 


513 


703 


12 


23 


72 


107 


8 


11 


29 


48 


Feb. 


42 


152 


527 


721 


12 


24 


73 


109 


8 


11 


29 


49 


Mar. 


42 


152 


526 


720 


12 


24 


74 


110 


8 


11 


29 


48 


Apr. 


40 


143 


499 


682 


12 


23 


71 


106 


8 


10 


28 


46 


May 


34 


126 


439 


599 


11 


21 


64 


96 


8 


10 


26 


43 


June 


27 


108 


376 


511 


9 


19 


57 


86 


7 


9 


24 


40 


July 


24 


96 


329 


448 


9 


17 


52 


78 


7 


8 


22 


38 


Aug. 


21 


86 


296 


404 


9 


16 


48 


72 


7 


8 


21 


35 


Sept. 


14 


76 


259 


349 


10 


15 


42 


67 


8 


9 


23 


40 


Oct. 


16 


79 


267 


362 


10 


15 


42 


68 


8 


10 


24 


41 


Nov. 


21 


86 


292 


400 


11 


16 


44 


71 


8 


10 


25 


43 


Dec. 


22 


100 


339 


460 


11 


17 


47 


76 


8 


11 


25 


44 


1938— Jan. 


23 


111 


374 


507 


12 


18 


50 


80 


8 


11 


26 


45 


Feb. 


23 


116 


389 


528 


12 


18 


51 


81 


8 


11 


27 


46 


Mar. 


22 


117 


392 


530 


11 


17 


50 


79 


7 


11 


20 


44 


Apr. 


22 


113 


379 


513 


10 


17 


48 


76 


7 


10 


26 


43 


May 


21 


102 


341 


464 


10 


16 


45 


71 


7 


10 


24 


41 


June 


19 


91 


305 


416 


10 


15 


42 


66 


7 


9 


23 


39 


July 


20 


86 


289 


396 


9 


14 


40 


63 


7 


9 


22 


38 


Aug. 


18 


82 


273 


372 


9 


14 


39 


61 


7 


9 


22 


37 


Sept. 


15 


76 


266 


357 


10 


12 


23 


45 


9 


10 


23 


42 


Oct. 


19 


81 


282 


382 


10 


13 


24 


47 


9 


10 


25 


44 


Nov. 


24 


92 


319 


435 


11 


13 


27 


52 


10 


11 


27 


48 


Dec. 


24 


106 


368 


499 


11 


15 


30 


57 


10 


12 


2S 


50 


1939— Jan. 


27 


119 


411 


556 


12 


16 


33 


61 


10 


12 


29 


51 



ipt ol Material Aid (through Municipal or Provincial governments) to 



contributed. *Not available. 



62 



IENTS : 1933-39 



Thousands of Persons 





AGRICULTURAL 


Grand 
Total 
Urban 
and 
Agri- 
cultural 




All Urban 


Farmers 


All De- 
pendents 
of Farm 
Family 
Heads 


Total 






Heads of 

Families 


Dependents 


Total 




JAL 


Total 


Of Which 


Individual 
Persons 


Heads of 
Families 




-IS 


Fully 
Employable 


Partially 
Employable 


Non- 
Worker 
Type 






* 


* 


* 


* 


* 


* 


* 


* 


* 


* 


1,228 


Annual Average 

1933 




* 


* 


* 


* 


* 


* 


* 


* 


* 


* 


1,136 


1934 




* 


* 


* 


* 


* 


* 


* 


* 


* 


* 


1,163 


1935 




* 


* 


* 


* 


* 


* 


* 


* 


* 


* 


1,149 


1936 




142 


471 


46 


2 


423 


660 


8 


58 


240 


306 


966 


1937 




123 


395 


30 


1 


365 


558 


8 


62 


243 


312 


870 


1938 

Monthly 




151 


509 


57 


3 


449 


707 


6 


45 


197 


248 


956 


Sept.— 1936 




155 


522 


58 


3 


462 


730 


7 


51 


221 


279 


1,009 


Oct. 




159 


536 


58 


3 


476 


751 


8 


55 


233 


295 


1,046 


Nov. 




171 


575 


61 


3 


512 


805 


8 


57 


245 


310 


1,115 


Dec. 




183 


614 


65 


3 


547 


858 


8 


59 


252 


320 


1,178 


Jan.— 1937 




187 


629 


66 


3 


560 


879 


8 


61 


259 


328 


1,207 


Feb. 




18G 


629 


66 


3 


560 


878 


8 


61 


261 


331 


1,209 


Mar. 




177 


598 


62 


3 


533 


834 


8 


60 


258 


326 


1,160 


Apr. 




156 


529 


55 


2 


472 


738 


7 


56 


237 


300 


1,038 


May 




136 


457 


47 


2 


408 


636 


7 


50 


208 


264 


901 


June 




121 


403 


40 


2 


361 


564 


6 


44 


179 


229 


793 


July 




110 


364 


36 


2 


327 


511 


7 


45 


181 


233 


744 


Aug. 




101 


324 


27 




296 


456 


7 


53 


209 


269 


725 


Sept. 




104 


333 


27 




305 


471 


8 


65 


257 


331 


802 


Oct. 




112 


361 


29 




331 


513 


9 


72 


282 


363 


877 


Nov. 




127 


412 


32 




378 


580 


10 


74 


293 


377 


957 


Dec. 




139 


450 


35 




414 


632 


10 


76 


298 


383 


1,015 


Jan.— 1938 




145 


467 


36 




429 


655 


10 


77 


303 


389 


1,044 


Feb. 




145 


468 


36 




431 


653 


10 


77 


305 


392 


1,045 


Mar. 




140 


453 


35 




418 


632 


10 


77 


305 


392 


1,024 


Apr. 




127 


410 


31 




378 


576 


10 


75 


296 


380 


956 


May 




116 


369 


28 




341 


521 


10 


72 


282 


364 


885 


June 




110 


351 


26 




324 


497 


9 


67 


263 


339 


837 


July 




104 


333 


24 




308 


471 


8 


57 


222 


287 


758 


Aug. 




98 


312 


23 




288 


445 


3 


21 


86 


109 


554 


Sept. 




104 


331 


24 




306 


473 


4 


33 


131 


168 


641 


Oct. 




117 


373 


27 




345 


535 


6 


50 


196 


252 


787 


Nov. 




132 


426 


32 




394 


605 


7 


58 


227 


292 


896 


Dec. 




147 


473 


36 


1 


436 


668 


7 


60 


240 


308 


976 


Jan.— 1939 



63 



APRIL 1939 



VI 



ESTIMATED EMPLOYMENT AND UNEMPLOYMENT OF WAGE-EARNERS* 

Dominion Bureau of Statistics 





Number in Thousands 


1 


NDEXES 1926 = 


100 


Ratio of 




Total 


Wage- 


Wage- 


Total 


Wage- 


Wage- 


Unemployed 
to Total 




Wage- 


Earners 


Earners 


Wage- 


Earners 


Earners 




Earners 


Employed 


Unemployed 


Earners 


Employed 


Unemployed 


Wage-Earners 


Annual Average 
















1926 


2,140 


2,042 


99 


100.0 


100.0 


100.0 


4.6 


1929 


2,551 


2,444 


107 


119.2 


119.7 


108.1 


4.2 


1932 


2,459 


1,820 


639 


114.9 


89.1 


645.5 


26.0 


1933 


2,434 


1,788 


647 


113.7 


87.6 


653.5 


26.6 


1934 


2,530 


2,009 


520 


118.2 


98.4 


525.3 


20.6 


1935 


2,539 


2,056 


483 


118.6 


100.7 


487.9 


19.0 


1936 


2,572 


2,142 


430 


120.2 


104.9 


434.3 


16.7 


1937 


2,706 


2,369 


337 


126.4 


116.0 


340.4 


12.5 


1938 


2,704 


2,297 


407 


126.4 


112.5 


411.1 


15.1 


Month-end 
















1937— Oct. 


2,819 


2,577 


242 


131.7 


126.2 


244.4 


8.6 


Nov. 


2,795 


2,504 


291 


130.6 


122.6 


293.9 


10.4 


Dec. 


2,758 


2,377 


381 


128.9 


116.4 


384.8 


13.8 


1938— Jan. 


2,703 


2,300 


403 


126.3 


112.6 


407.1 


14.9 


Feb. 


2,661 


2,225 


436 


124.3 


109.0 


440.4 


16.4 


1938— Oct. 


2,737 


2,359 


378 


127.5 


115.5 


381.8 


13.8 


Nov. 


2,744 


2,346 


398 


128.2 


114.9 


402.0 


14.5 


Dec. 


2,697 


2,225 


472 


126.0 


109.0 


476.8 


17.5 


1939— Jan. 


2,678 


2,193 


485 


125.1 


107.4 


489.9 


18.1 


Feb. 


2,684 


2,193 


491 


125.4 


107.4 


496.0 


18.3 



DIRECT RELIEF RECIPIENTS (EXCLUDING DEPENDENTS) : 1936-39 

THOUSANDS OF PERSONS THOUSANDS OF PERSONS 

4oor 




MJJASONDJTM 
1938 1939 

fSee table on pages 61-2. 
♦Fully employable dependents, as given on page 62, are, however, included in the Fully Employable group as shown on this chart. 



APRIL 1939 



64 



VII 



-INDUSTRIAL ACTIVITY 

Dominion Bureau of Statistics 





Physical 

Volume of 

Business 

Index 


PRODUCTION 


Con- 
struction 
Contracts 


Car 

Loadings 


Employ- 




Gold 


Nickel 


Steel 


Auto- 
mobiles 


News- 
print 


Central 
Electric 


Index") 




Seasonally 
adjusted 








& Trucks 


Stations 






Seasonally 
adjusted 










Thousands 


Thousands 


Millions 








1926 = 100 


Fine Ounces 


Short Tons 


Long Tons 


Short Tons 


Kilowatt Hrs. 


of Dollars 


Thousands 


1926 = 100 


Annual TotaIs<2) 






















1926 


100.0 


1 ,754 


33.0 


776 


205.0 


1 ,889 


11,926 


372.9 


3,253 


100.0 


1929 


125.5 


1,928 


55.1 


1,378 


202.0 


2,725 


17,633 


576.7 


3,524 


119.2 


1932 


78.7 


3,044 


15.2 


339 


00.8 


1,919 


15,863 


132.9 


2,176 


86.4 


1933 


79.7 


2,949 


41.0 


410 


05.9 


2,022 


17,553 


97.3 


2,032 


84.2 


1934 


94.2 


2,972 


64.3 


758 


116.9 


2,005 


21,160 


125.8 


2,321 


96.4 


1935 


102.4 


3,285 


69.3 


942 


172.9 


2,765 


23,404 


160.3 


2,358 


99.8 


193G 


112.2 


3,748 


84.9 


1,116 


162.2 


3,225 


25,934 


162.6 


2,494 


104.0 


1937 


122.7 


4,090 


112.5 


1 ,403 


207.5 


3,674 


27,584 


224.1 


2,635 


114.1 


1938 


112.9 


4,710 


105.1 


1,150 


166.1 


2,625 


25,994 


187.3 


2,429 


111.4 


Monthly Totals 






















1937-Nov. 


127.9 


353.3 


9.9 


110.7 


16.6 


302.2 


2,415 


14.7 


235.1 


118.8 


Dec. 


121.4 


302.2 


9.9 


98.3 


21.1 


293.0 


2,458 


10.8 


204.2 


117.8 


1938- J an. 


111.8 


301.1 


10.1 


112.4 


17.6 


222.5 


2,281 


9.1 


187.4 


114.7 


Feb. 


100.7 


340. S 


8.0 


99.0 


16.1 


202.6 


2,058 


6.6 


179.7 


112.3 


Mar. 


108.8 


370.0 


8.0 


118.7 


16.8 


224.6 


2,258 


10.4 


199.5 


111.2 


1938-Nov. 


123.4 


410.0 


8.8 


90.1 


18.0 


245.3 


2,376 


15.0 


219.2 


111.3 


Dec. 


115.0 


433.9 


8.3 


78.0 


18.7 


209.8 


2,350 


10.5 


178.4 


112.3 


1939-Jan. 


113.0 


411.3 


7.4 


78.2 


14.8 


208.4 


2,387 


7.3 


171.4 


110.6 


Feb. 


117.0 


391.0 


8.7 


77.2 


14.3 


200.6 


2,214 


11.3 


159.7 


111.0 


Mar. 


113.2 






95.7 


17.5 


220.0 


2,307 


10.4 


191.0 


111.1 



(1) As at end of month. (2) Average of months i 



of Physical Volume of Business and Employment Indexes. 



NEWSPRINT : SHIPMENTS TO AND CONSUMPTION BY U. S. PUBLISHERS : 1935-39 



THOUSANDS Or SHORT TONS 

500 



THOUSANDS Of SHORT TONS 

500 




65 



APRIL 1939 



VIII— EXTERNAL TRADE : VOLUME OF IMPORTS 

Compiled from Trade of Canada, Dominion Bureau of Statistics 





Sugar 

and 

Syrups 


Tea 


Coffee 


Raw 
Cotton 


Raw 
Wool 


Petroleum 
Oils 


Crude 
Rubber 


Coal 


Tin 
Plate 


Structural 
Iron 
and 
Steel 


Index: 

Volume 

of 

Total 




Pounds 


Pounds 


Pounds 


Pounds 


Pounds 


Gallons 


Pounds 


Short tons 


Short tons 


Short tons 


Imports 




Millions 


Millions 


Millions 


Millions 


Millions 


Millions 


Millions 


Millions 


Thousands 


Thousands 




Calendar Year Totals 
























1926 


1,260 


38 


25 


135 


15 


766 


45 


17 


75 


203 


100 


1927 


1,101 


38 


27 


136 


14 


929 


59 


19 


71 


204 


110 


1928 


1,052 


40 


29 


134 


14 


1,113 


69 


17 


74 


270 


126 


1929 


1,055 


39 


29 


136 


12 


1,359 


80 


18 


82 


381 


137 


1930 


1,060 


51 


31 


100 


10 


1,303 


65 


19 


99 


193 


120 


1931 


1,080 


33 


33 


95 


11 


1 .245 


57 


13 


43 


120 


86 


1932 


990 


40 


31 


97 


9 


1,115 


47 


12 


40 


31 


64 


1933 


959 


39 


34 


120 


14 


1,119 


43 


11 


81 


19 


55 


1934 


992 


39 


35 


143 


15 


1,206 


64 


13 


85 


32 


67 


1935 


1,081 


35 


35 


121 


15 


1,293 


60 


12 


81 


43 


70 


1936 


1 ,233 


40 


41 


150 


23 


1,378 


62 


13 


94 


53 


79 


1937 


1,098 


40 


38 


158 


24 


1,503 


81 


15 


117 


76 


89 


1938 


1,141 


38 


43 


135 


16 


1,421 


58 


13 


78 


43 


81 


12 Months Ending 
























Feb. 1939 


1,134 


38 


44 


125 


16 


1,436 


62 


13 


73 


40 


80 


Monthly Totals 
























1937— Dec. 


61.7 


2.9 


2.4 


13.7 


.4 


67.4 


5.9 


1.2 


7.2 


3.3 


74 


1938— Jan. 


34.6 


2.8 


4.4 


11.9 


.9 


55.7 


4.0 


1.1 


2.7 


3.4 


69 


Feb. 


25.7 


2.4 


2.8 


10.9 


1.3 


50.3 


1.4 


1.0 


5.3 


2.9 


66 


1938— Dec. 


62.0 


3.1 


3.1 


9.8 


.8 


51.0 


4.9 


1.0 


3.2 


2.2 


64 


1939— Jan. 


29.2 


3.2 


4.4 


7.4 


1.3 


66.0 


6.4 


3.0 


1.6 


1.8 


63 


Feb. 


24.5 


2.6 


3.6 


6.0 


1.6 


54.1 


3.3 


1.0 


1.3 


1.8 


59 



(1) Index of Total Import Values divided by D.B.S. Import Price Index. 



AUTOMOBILES AND TRUCKS: PRODUCTION. EXPORTS AND IMPORTS: 1926-39 



thousands or UNITS 



THOUSANDS OT UNITS 




1927 1928 1929 1930 1931 1932 

♦Running 12-month totals in 1937-39. fMarch production 



PRIL 1939 



66 



VIII— EXTERNAL TRADE : VOLUME OF EXPORTS 

Compiled from Trade of Canada, Dominion Bureau of Statistics 





Wheat 
and 
Flour 


Fish 


Bacon 
and 
Hams 


Cheese 


Newsprint 
and 
Wood 
Pulp 


Lumber 


Nickel 


Copper 


Auto- 
mobiles 

and 
Trucks 


Non- 
Monetary 
Gold* 


Index: (1) 

Volume 

of 

Can. 














Board Feet 


Short tons 


Short tons 




Fine ounce 


Exports 




Millions 


Millions 


Millions 


Millions 


Thousands 


Millions 


Thous'ds 


Thous'ds 




Thousands 




Calendar Year Totals 
























1926 


297 


435 


93 


135 


2,738 


2,132 


32 


59 


74 


1,469 


100 


1927 


297 


410 


58 


111 


2,761 


2,066 


35 


67 


57 


1,559 


98 


1928 


414 


456 


41 


114 


3,070 


1,724 


49 


95 


79 


1,939 


113 


1929 


254 


417 


29 


93 


3,346 


1,755 


55 


124 


102 


1,798 


99 


1930 


242 


367 


15 


80 


3,093 


1,489 


46 


118 


45 


1,880 


88 


1931 


220 


357 


13 


85 


2,631 


938 


32 


98 


14 


2,633 


77 


1932 


251 


258 


36 


87 


2,229 


674 


16 


133 


13 


2,981 


71 


1933 


217 


303 


73 


74 


2,447 


1,018 


44 


124 


20 


2,859 


74 


1934 


191 


288 


120 


61 


3,020 


1,368 


59 


156 


43 


3,238 


83 


1935 


188 


323 


125 


56 


3,237 


1,337 


71 


199 


64 


3,396 


89 


1936 


265 


321 


158 


82 


3,748 


1,750 


87 


206 


56 


3,757 


108 


1937 


114 


324 


196 


89 


4,326 


1,858 


111 


219 


66 


4,158 


98 


1938 


132 


286 


171 


81 


2,979 


1,667 


99 


280 


58 


4,591 


95 


12 Months Ending 
























Feb. 1939 


136 


286 


163 


82 


3,017 


1,721 


98 


282 


60 


4,842 


100 


Monthly Totals 
























1937— Dec. 


8.2 


32.1 


16.0 


2.8 


373.1 


133.3 


7.5 


17.7 


3.6 


470 


97 


1938— Jan. 


8.5 


36.0 


19.8 


.4 


207.2 


108.9 


9.9 


20.0 


4.9 


316 


83 


Feb. 


4.1 


23.0 


15.1 


.4 


183.8 


117.7 


9.7 


16.5 


7.3 


320 


73 


1938— Dec. 


17.6 


28.5 


13.2 


7.6 


261.2 


157.3 


5.7 


21.8 


5.0 


332 


104 


1939— Jan. 


9.6 


36.4 


15.8 


1.3 


240.7 


156.2 


9.6 


17.9 


8.5 


516 


114 


Feb. 


7.1 


23.1 


11.6 


.9 


188.9 


124.1 


10.0 


19.9 


6.0 


370 


91 



* Net exports adjusted for changes in "earmarked" gold; revised figures as given on page 43 of the March 1939 Statistical Summary. 
(1) Index of Canadian Export Values divided by D.B.S. Export Price Index adjusted to include non-monetary gold. 



LUMBER •• PRODUCTION AND EXPORTS = 1926-39 



BILLIONS OF BOARD FEET 

5 



BILLIONS OF BOARD FEET 

5 




1927 1928 1929 1930 193 

"Running 12-month totals in 1937-39. 



933 1934 1935 1936 1937 1938 1939 1940 



67 



APRIL 193 



IX— WHOLESALE PRICE INDEXES 

1926 = 100 



CANADA 

Dominion Bureau oj Statistics 





Farmt 
Products 


Raw 

Materials 


Foods 


Manu- 
factures 


Total 


Average of Mths. 












1926 


100.0 


100.0 


100.0 


100.0 


100.0 


1929 


100.8 


97.5 


100.0 


93.0 


95.6 


1932 


48.4 


55.0 


61.5 


69.8 


66.7 


1933 


51.0 


56.6 


63.8 


70.2 


67.1 


1934 


59.0 


63.5 


69.7 


73.4 


71.6 


1935 


63.5 


66.0 


70.4 


72.8 


72.1 


1936 


69.4 


70.8 


73.4 


73.6 


74.6 


1937 


87.0 


84.2 


81.2 


80.4 


84.5 


1938 


73.6 


72.8 


77.4 


78.2 


78.6 


Monthly 












1938-Mar. 


83.0 


79.7 


81.2 


82.0 


83.1 


Apr. 


82.5 


79.0 


80.6 


81.3 


82.3 


May 


77.3 


75.8 


78.4 


79.4 


80.3 


June 


76.6 


75.3 


79.2 


79.2 


80.1 


July 


71.5 


72.5 


79.0 


78.4 


78.6 


Aug. 


64.2 


67.5 


75.8 


77.0 


76.0 


Sept. 


63.8 


65.6 


74.3 


75.6 


74.5 


Oct. 


63.8 


65.1 


73.0 


74.8 


74.1 


Nov. 


64.9 


64.6 


72.0 


74.0 


73.5 


Dec. 


64.6 


64.9 


75.0 


73.6 


73.3 


1939-Jan. 


64.8 


64.8 


71.7 


73.5 


73.3 


Feb. 


64.7 


64.9 


71.9 


73.6 


73.2 


Mar. 


65.1 


65.1 


72.2 


73.2 


73.2 



U.K. 

Board of Trade w 



Foods 


Total 


100.0 


100.0 


93.9 


92.1 


71.8 


69.1 


67.8 


69.2 


69.5 


71.1 


71.0 


71.8 


75.0 


76.2 


83.7 


87.8 


79.7 


81.9 


82.4 


84.0 


82.0 


83.2 


82.1 


82.3 


81.3 


81.3 


SO.O 


81.2 


77.5 


80.3 


75.2 


79.4 


75.7 


80.0 


74.1 


79.4 


75.1 


79.3 


75.7 


78.4 


74.5 


78.1 


73.7 


78.0 



U.S.A. 

Bureau of Labour 



Farm 
Products 


Raw 

Materials 


Foods 


Manu- 
factures 

'2) 


Total 


100.0 
104.9 
48.2 


100.0 
97.5 
55.1 


100.0 

99.9 
61.0 


100.0 
94.5 
70.3 


100.0 
95.3 
64.8 


51.4 
65.3 

78.8 


56.5 
68.6 

77.1 


60.5 
70.5 

83.7 


70.5 
78.2 
82.2 


65.9 
74.9 
80.0 


SO.O 
86.4 

68.5 


79.9 
84.8 
72.0 


82.1 
85.5 
73.6 


82.0 
87.2 

82.2 


80.8 
86.3 
78.6 


70.3 
68.4 
67.5 
68.7 


73.2 
71.3 
70.7 
71.4 


73.5 
72.3 
72.1 
73.1 


83.4 
82.7 
82.1 

82.2 


79.7 

78.7 
78.1 
78.3 


69.4 
67.3 
68.1 
66.8 
67.8 
67.6 


72.3 
71.4 
72.0 
70.9 
71.5 
70.9 


74.3 
73.0 
74.5 
73.5 
74.1 
73.1 


82.5 
81.8 
81.8 
81.1 
80.5 
80.2 


78.8 
78.1 
78.3 
77.6 
77.5 
77.0 


67.2 
67.2 
65.8 


70.9 
70.9 
70.1 


71.5 
71.5 
70.2 


80.0 
80.2 

80.2 


76.9 
76.9 
76.7 



WHOLESALE PRICE INDEXES: 1936-39 




DJFMAMJJASONDJF 

1936 
fSee note above. *Includes Newsprint 



/IJJASONDJF 
1937 



AMJJASONDJFMAMJ 
1938 1939 



68 



X— MINERAL PRODUCTION : 1926-38* 

Dominion Bureau of Statistics 
VOLUME 





Annual Totals 


PRECIOUS METALS 




OTHER 


METALS 




NON-METALS 


All 
Other 

(U 






Gold | Silver 


Plat'm< 2 > 


Nickel 


Copper 


Lead 


Zinc 


Coal 


Asbestos 


Nat. Gas 


Petrol'm 


Total 




Thousands of Fine 


Ounces 




Millions 


}f Pounds 




000 tons 


000 tons 


mm.cu.ft. 


000 bbl. 






1926 
1929 
1932 

1935 
1936 
1937 
1938 


1,754 
1,928 
3,044 

3,285 

3,748 
4,096 
4,715 


22,372 
23,143 

18,348 

16,619 
18,334 
22,978 
22,157 


20 
30 
65 

190 
235 

139 

161 


66 
110 
30 

139 
170 
225 
211 


133 

248 
248 

419 
421 
530 
586 


284 
327 
256 

339 
383 

412 
419 


150 
197 

172 

321 
333 

370 
382 


16,478 
17,497 
11,739 

13,888 
15,229 
15,836 
14,248 


279 

306 

123 

210 
301 
410 
290 


19,208 
28,378 
23,420 

24,911 
28,113 
32,381 
33,441 


364 

1,117 
1,044 

1,447 
1,500 
2,944 
6,956 


* 
* 

* 
* 
* 


100 
123 
108 

149 
163 
190 
195 



Millions of Dollars 












VALUE 
















1926 


36.3 


13.9 


1.6 


14.4 


17.5 


19.2 


11.1 


59.9 


10.1 


7.6 


1.3 


47.5 


240.4 


1929 


39.9 


12.3 


1.7 


27.1 


43.4 


16.5 


10.6 


63.1 


13.2 


10.0 


3.7 


69.4 


310.9 


1932 


71.5 


5.8 


2.0 


7.2 


15.3 


5.4 


4.1 


37.1 


3.0 


8.9 


3.0 


27.9 


191.2 


1935 


115.6 


10.8 


5.4 


35.3 


32.3 


10.6 


9.9 


42.0 


7.1 


9.4 


3.5 


30.4 


312.3 


1936 


131.3 


8.3 


7.8 


43.9 


39.5 


15.0 


11.0 


45.8 


10.0 


10.8 


3.4 


35.1 


361.9 


1937 


143.3 


10.3 


6.8 


59.5 


68.9 


21.1 


18.2 


48.8 


14.5 


11.7 


5.4 


48.9 


457.4 


1938 


165.9 


9.6 


5.2 


53.9 


58.0 


14.0 


11.7 


43.9 


12.9 


11.8 


11.8 


46.1 


444.8 







PROVINCIAL DISTRIBUTION 
VOLUME 














PRECIOUS METALS 


OTHER METALS 


NON-METALS 


All 
Other 






Gold | Silver | Plat'm <2) 


Nickel | Copper | Lead | Zinc 


Coal 


Asbestos 


Nat. Gas 


Petrol'm 


Total 




Thousands of Fine Ounces 


Millions of Pounds 


000 tons 


000 tons 


mm. cu. ft. 


000 bbl. 





Maritimes 


20 


27 


_ 


_ 


_ 


_ 


5 


7,622 


_ 


577 


18 


* 


* 


Quebec 


711 


909 


- 


- 


95 


2 


9 


- 


410 


- 


- 


* 


* 


Ontario 


2,587 


4,693 


139 


225 


322 


- 


- 


- 


- 


10,746 


165 


* 


* 


Prairie (3) 


271 


5,819 


- 


- 


67 


6 


69 


6,615 


- 


21,058 


2,760 


* 


* 


Br. Columbia 


506 


11,530 


- 


- 


46 


404 


287 


1,599 


- 


- 


- 


* 


* 



Maritimes 


27 


1 


_ 


_ 


_ 


_ 


_ 


6,561 


_ 


577 


19 


* 


* 


Quebec 


880 


1,189 


- 


- 


113 


- 


5 


- 


290 


- 


- 


* 


* 


Ontario 


2,897 


4,323 


161 


211 


325 


- 


- 


- 


- 


10,973 


172 


* 


* 


Prairie (3) 


315 


5,504 


- 


- 


84 


5 


77 


6,247 


- 


21,891 


6,765 


* 


* 


Br. Columbia 


596 


11,140 


- 


- 


65 


414 


299 


1,440 


- 


- 


- 


* 


* 



VALUE 

1937 



Maritimes 


.7 


_ 


_ 


_ 


_ 


_ 


.3 


26.8 


_ 


.3 




5.0 


33.1 


Quebec 


24.9 


.4 


- 


- 


12.4 


.1 


.4 


- 


14.5 


- 


- 


12.5 


65.2 


Ontario 


90.5 


2.1 


6.8 


59.5 


41.7 


- 


- 


- 


- 


0.6 


.4 


22.4 


230.0 


Prairie' 3 ' 


9.5 


2.6 


- 


- 


8.8 


.3 


3.4 


16.1 


- 


4.8 


5.0 


5.0 


55.5 


Br. Columbia 


17.7 


5.2 


- 


- 


6.0 


20.6 


14.1 


5.9 


- 


- 


- 


4.1 


73.6 



Maritimes 


.9 


_ 


_ 


_ 


_ 


_ 


_ 


23.6 


_ 


.3 


_ 


5.2 


30.0 


Quebec 


30.9 


.5 


- 


- 


11.2 


- 


2 


- 


12.9 


- 


- 


12.0 


68.3 


Ontario 


101.9 


1.9 


5.2 


53.9 


31.9 


- 


- 


- 


- 


6.6 


.4 


19.7 


221.5 


Prairie (3) 


11.1 


2.4 


- 


- 


8.4 


.2 


2.4 


15.1 


- 


5.0 


11.4 


4.9 


60.9 


Br. Columbia 


21.0 


4.8 


- 


- 


6.5 


13.8 


9.2 


5.2 


- 


- 


- 


3.6 


64.1 



X In continuation of table on pages 3.5 and 34 of the February 1938 Statistical Summary, 
and gravel, and clay products. (2) Platinum figures include all platinum metals. (3) 



* Indexes not available. t Index l')26 
:ludes Yukon and Northwest Territories. 



( 1) Chiefly cement, sand 



[AY 1939 



Millions of Dollars 

450 



BANK OF CANADA 

SOURCES AND DISTRIBUTION OF CASH 

MONTHLY AVERAGE OF WEDNESDAY FIGURES 




150 



100 



5G 








mmw, 



IH CHARTERED BANK DEPOSITS 
WITH BANK OF CANADA 







si: 




DJFMAMJJASONDJFMAMJJASONDJFMAMJ DJFMAMJJASONOJFMAMJJASONOjrMA 

1937 1938 1939 1937 1938 1939 



70 



Millions of Dollars 



MAY 1939 

I— BA 





LIABILITIES 




Chartered Bank Cash 


Govt. 
Deposits 


Other 
Deposits 


Active 

B. of C. 

Note 

Circulation 


All 

Other 

Accounts 


Tot£ 

Asse 

or 

Liabili 

294. 




Notes 
in Tills 


Deposits 

at 
B. of C. 


Total 


Average of 
Wednesday Figures 

1935- 9 Mths. 


37.2 


176.5 


213.7 


23.9 


.7 


48.9 


6.8 


1936-12 Mths. 


40.4 


184.7 


225.1 


22.5 


1.0 


64.0 


9.4 


322. 


1937-12 Mths. 


49.8 


191.4 


241.2 


25.8 


1.2 


90.6 


13.5 


372. 


1938-12 Mths. 


56.0 


199.6 


255.6 


22.8 


2.1 


105.9 


12.5 


399. 


1938— Apr. 


52.8 


190.7 


243.5 


20.3 


2.7 


101.9 


13.8 


382. 


May 


54.9 


193.3 


248.2 


16.4 


2.8 


102.1 


14.4 


383. 


June 


53.0 


190.8 


243.8 


42.4 


2.1 


101.4 


15.1 


404. 


July 


55.1 


192.6 


247.7 


16.0 


2.0 


101.3 


13.7 


380. 


Aug. 


55.4 


199.8 


255.2 


13.3 


1.6 


104.3 


12.9 


387. 


Sept. 


60.2 


205.5 


265.7 


21.4 


1.0 


111.5 


9.3 


408. 


Oct. 


62.0 


216.2 


278.2 


28.6 


1.4 


118.4 


9.5 


436. 


Nov. 


58.3 


219.9 


278.2 


26.6 


1.5 


116.4 


10.5 


433. 


Dec. 


59.6 


204.6 


264.2 


28.4 


2.3 


115.6 


10.1 


420. 


1939— Jan. 


61.1 


210.4 


271.5 


23.6 


3.3 


107.5 


10.1 


416. 


Feb. 


53.4 


207.0 


260.4 


31.8 


3.1 


106.0 


10.4 


411. 


Mar. 


52.1 


205.3 


257.4 


19.3 


4.3 


107.2 


9.1 


397. 


Apr. 


56.1 


203.7 


259.8 


20.4 


8.0 


109.4 


9.0 


406. 


Wednesdays 


















May 3 


54.4 C2) 


207.8 


262.2 (2) 


32.0 


8.5 


112.1 (2 > 


10.4 


425. 


10 


55.2 (2) 


207.9 


263.1 (2) 


26.8 


9.2 


109.8 (2) 


9.3 


418. 


17 


55.8 (2) 


205.7 


261.5 21 


24.1 


8.3 


110.6 (2) 


9.8 


414. 


24 


54.4 (2) 


204.7 


259.1 2 ' 


28. 6 


7.8 


112.4 (2) 


9.9 


417. 



(1) Includes "Other Securities" 



(2) Estimates. 



CHARTERED BANKS RATIO: PUBLIC DEMAND TO TIME DEPOSITS IN CANADA = 1926-39 




32 "A 



326 1927 1928 1929 1930 1931 1932 1933 1934 1935 1936 1937 1938 1939 1940 



dAY 1939 
IN ADA 



71 



Millions of Dollars 



ASSETS 




Reserve 


Securities 


Advances 


All 

Other 

Accounts 






Silver 


Foreign 
Currencies 


Total 
Reserve 


Reserve 
Ratio 


Dom.-Prov. 
Short 


Dom.-Prov. 
Long 


Total"' 
























Average of 

Wednesday Figures 




1.4 


10.3 


166.2 


57.87 


25.6 


94.0 


119.6 


4.1 


4.0 


1935- 9 Mths. 




1.8 


11.4 


192.9 


61.69 


37.0 


86.3 


123.2 


1.7 


4.2 


1936-12 Mths. 




2.5 


20.4 


204.8 


57.11 


57.9 


98.4 


162.2 


- 


5.1 


1937-12 Mths. 




.9 


28.7 


210.6 


54.50 


122.5 


53.0 


181.2 


.9 


6.3 


1938-12 Mths. 




1.8 


21.5 


204.0 


55.37 


116.3 


41.5 


170.1 


2.8 


5.4 


Apr.— 1938 




.4 


24.4 


206.1 


55.78 


120.7 


39.0 


170.9 


- 


7.0 


May 




- 


37.7 


219.6 


56.34 


113.3 


51.9 


171.3 


- 


14.0 


June 




- 


26.5 


207.3 


56.48 


114.5 


52.5 


167.8 


- 


5.6 


July 




- 


26.0 


206.5 


55.17 


121.3 


52.5 


173.8 


- 


6.9 


Aug. 




- 


32.9 


214.4 


53.65 


139.8 


48.9 


188.7 


- 


5.8 


Sept. 




- 


36.2 


217.6 


51.02 


161.9 


46.1 


208.0 


4.8 


5.6 


Oct. 




- 


39.8 


220.9 


52.27 


162.2 


42.5 


204.7 


2.0 


5.6 


Nov. 




- 


40.9 


223.3 


54.40 


151.0 


40.5 


191.4 


- 


5.9 


Dec. 




- 


31.1 


219.5 


54.09 


140.1 


41.6 


181.7 


- 


14.7 


Jan.— 1939 




- 


42.1 


236.8 


59.01 


128.8 


39.1 


167.9 


- 


7.0 


Feb. 




- 


32.3 


233.9 


60.26 


129.8 


28.6 


158.4 


- 


5.0 


Mar. 




- 


33.2 


238.9 


60.09 


133.7 


28.5 


162.3 


~ 


5.4 


Apr. 

Wednesdays 




- 


33.5 


239.5 


57.75 


135.4 


29.3 


164.7 


- 


20.9 


May 3 




- 


35.2 


241.2 


59.00 


138.0 


29.9 


167.9 


- 


9.0 


10 




- 


35.4 


241.1 


59.61 


113.1 


53.3 


166.4 


- 


6.8 


17 




- 


39.3 


245.2 


60.09 


113.3 


53.4 


166.8 


- 


5.8 


24 



MILLIONS OF DOLLARS 

5500 



4500 



BANK DEBITS = 1926-39 

TOTAL AT 32 CLEARING HOUSE CENTRES 



3500 



2500 



MILLIONS OF DOLLARS 

5500 



4500 




3500 



2500 



1926 1927 1928 1929 1930 1931 1932 1933 1934 1935 



1936 1937 1938 1939 1940 



72 









































MAY 1939 








ii— cm 


Millions of Dollars 






i,i 




LIABILITIES 






Notes 


Deposits 


Cash 

in 
Canada ' 


Securities 




Demand 


Time 


Dom. Canadian 


Foreign 


Total 
Deposits* 21 


DOM.-PROV. 






and Prov. 


Deposits'" 


Short 


Long 


Average of 
Month-end Figures 

1926 


169 


553 


1,341 


53 


1,958 


330 


2,333 


197 


344 


1929 


178 


696 


1,480 


102 


2,293 


418 


2,837 


212 


342 




1932 


132 


486 


1,376 


82 


1,955 


312 


2,322 


186 


490 


1 


1933 


130 


489 


1,379 


62 


1,941 


308 


2,290 


195 


627 




1934 


136 


514 


1 ,373 


66 


1,966 


322 


2,317 


203 


684 




1935 


126 


569 


1,445 


65 


2,104 


34S 


2,476 


216 


407 


454 




1936 


119 


618 


1,518 


77 


2,245 


401 


2,668 


225 


447 


628 




1937 


110 


691 


1,574 


90 


2,382 


421 


2,840 


240 


445 


674 




1938 


100 


690 


1,630 


94 


2,449 


408 


2,892 


252 


447 


696 




End of 
























1938— Apr. 


100 


687 


1,631 


96 


2,445 


398 


2,884 


243 


461 


694 




May 


97 


670 


1 ,625 


107 


2,438 


404 


2,880 


241 


448 


700 




June 


104 


690 


1,621 


148 


2,484 


410 


2,939 


242 


437 


719 




July 


101 


671 


1,623 


101 


2,445 


397 


2,862 


235 


422 


717 




Aug. 


99 


687 


1,635 


96 


2,460 


400 


2,878 


257 


435 


710 




Sept. 


104 


725 


1 ,633 


89 


2,492 


425 


2,937 


264 


445 


684 




Oct. 


101 


749 


1,656 


75 


2,518 


419 


2,961 


286 


451 


669 




Nov. 


97 


750 


1,655 


94 


2,506 


436 


3,004 


271 


448 


693 




Dec. 


95 


734 


1,660 


106 


2,498 


420 


2,986 


257 


469 


693 




1939— Jan. 


90 


700 


1 ,667 


90 


2,501 


430 


2,954 


269 


464 


697 




Feb. 


94 


690 


1,691 


89 


2,514 


432 


2,974 


201 


481 


711 




Mar. 


97 


705 


1,700 


86 


2,538 


452 


3,021 


253 


528 


671 




Apr. 


95 


716 


1,697 


97 


2,551 


468 


3,050 


255 


511 


692 




(1) Estimated month-end deposits payable in Canadian currency. (2) Includes inter-hank deposits. 

(3) Until March 1935; Gold and Coin in Canada, Dominion Notes and "Free" Central Gold Reserve Deposits; after that date: Bank of Canada Notes and Deposit; 


CHARTERED BANKS : CURRENT LOANS TO THE PUBLIC IN CANADA : 1935-39 




MILLIONS Or DOLLARS 


MONTH-END FIGURES 


MILLIONS OF DOLLARS 


1000 














IUUU 








e 

i. 


'.0 
00 


H> 




r\ 


350 
300 














'^^-jL^^ 




t 




Qftn 










y 


-xc^r 


f 










900 


yuu 




*n 




750 












V-'' 










A 




^^ ==== ^ === ^ 


—JjUJ. 
















v^V 


\ 


z 


= 






II 1 7 


3 1 








800 


800 






























700 


















700 

























































o 


JFMAMJJASONDJFMAMJJASONDJ FMAMJJASONDJFMAMJJASONDJ FMAMJJAS 


D N D 






1935 








IS 


36 






1937 








1938 






1939 











MAY 1939 



73 



BANKS 



Millions of Dollars 



ASSETS 




Loans 






CANADA 


ABROAD 


Total 
Assets 


al 


Call 


Current 
Public 


Current 
Other 


Call 


Current 


$3 


140 


934 


87 


250 


261 


2,864 


)9 


267 


1,343 


112 


301 


248 


3,528 


)6 


117 


1,032 


165 


84 


172 


2,869 


11 


102 


907 


147 


92 


148 


2,831 


57 


102 


869 


145 


107 


138 


2,838 


14 


82 


829 


134 


72 


146 


2,957 


$1 


93 


699 


121 


64 


150 


3,145 


16 


107 


732 


117 


68 


165 


3,317 


10 


67 


786 


129 


51 


158 


3,349 


>6 


64 


770 


136 


50 


160 


3,337 


19 


66 


769 


130 


58 


162 


3,332 


>2 


69 


786 


135 


53 


181 


3,399 


56 


71 


786 


134 


53 


152 


3,322 


to 


71 


781 


132 


55 


144 


3,334 


l\ 


60 


829 


136 


45 


143 


3,400 


)9 


66 


848 


137 


52 


142 


3,424 


26 


64 


837 


133 


48 


148 


3,455 


53 


65 


806 


134 


51 


152 


3,431 


>4 


63 


792 


127 


56 


14S 


3,396 


)0 


60 


787 


133 


54 


145 


3,421 


)9 


56 


801 


142 


49 


144 


3,471 


)9 


54 


814 


142 


44 


143 


3,496 



DAILY AVERAGE DATA 




Cash 


Canadian 


Ratio of 
Cash to 


Total 
Active 




Canada (3) 


Deposits' 4 ' 


Deposits in 


Note 






Canada 


Circulation' 5 ' 












Average of 










Daily Figures 


192 


1,958 


9.8 


195 


1926 


191 


2,293 


8.3 


205 


1929 


172 


1,955 


8.8 


158 


1932 


189 


1,941 


9.8 


157 


1933 


201 


1,966 


10.2 


163 


1934 


213 


2,108 


10.1 


169 


1935 


225 


2,213 


10.2 


182 


1936 


240 


2,357 


10.2 


200 


1937 


254 


2,412 


10.5 


205 


1938 


240 


2,382 


10.1 


203 


Apr.— 1938 


247 


2,401 


10.3 


199 


May 


243 


2,421 


10.0 


200 


June 


245 


2,444 


10.0 


201 


July 


254 


2,426 


10.5 


201 


Aug. 


263 


2,442 


10.8 


214 


Sept. 


277 


2,474 


11.2 


220 


Oct. 


279 


2,487 


11.2 


214 


Nov. 


261 


2,473 


10.6 


216 


Dec. 


269 


2,473 


10.9 


195 


Jan.— 1939 


260 


2,466 


10.6 


197 


Feb. 


257 


2,485 


10.3 


201 


Mar. 


258 


2,520 


10.2 


204 


Apr. 



CHARTERED BANKS = INVESTMENTS OTHER THAN DOMINION AND PROVINCIAL SECURITIES: 1935-39 

MILLIONS OF DOLLARS MILLIONS OF DOLLARS 

400 




74 



MAY 1939 



Millions of dollars 



III— SAVINGS INSTITUTIONS 

DEPOSITS 



Calendar Year-ends (1) 


1926 


1927 


1928 


1929 


1930 


1931 


1932 


1933 


1934 


1935 


1936 


1937 


Dominion 


(2) 


(2) 






















Postal Savings 


31.9 


31.1 


28.4 


26.] 


24. S 


2::.!) 


23.9 


23.2 


22..1 


22.0 


21.9 


22.6 


Prov. Institutions 


























Ontario Savings Office 


18.4 


18.8 


19.8 


22.S 


23.3 


26.9 


23.7 


21.5 


21.4 


32.0 


37.7 


in.:; 


Manitoba Savings Office 


15.3 


15.6 


15.4 


14.4 


14.7 


12.4 


* 


* 


* 


* 


* 


* 


Alta. Savings Certificates ' 


10.1 


11.8 


11.6 


11.8 


11.0 


9.2 


7.6 


5.7 


5.6 


4.S 


4.5 


4.1 


Savings Banks 


























Montreal City & District' 4 ' 


56.3 


57.9 


58.4 


55.3 


55.4 


55.8 


51.3 


52.9 


52.7 


54.9 


57.8 


61.6 


La Caisse d'Economie 


13.1 


13.7 


13.0 


12.7 


12.9 


12.7 


13.2 


13.0 


13.1 


13.0 


L3.6 


13.5 


Caisses Populaires 


6.3 


7.9 


8.1 


8.1 


7.8 


7.4 


6.2 


5.6 


6.1 


(1.9 


7.7 


13.1 


Loan Companies 


32.3 


37.6 


40.0 


37.7 


39.7 


38.4 


36.9 


31.8 


32.6 


33.5 


33.4 


33.8 


Trust Companies"' 


17.2 


22.2 


27.9 


31.4 


35.5 


38.4 


41.1 


44.7 


45.1 


47.1 


49.2 


50.3 


Total 


200.9 


216.6 


222.6 


220.3 


225.1 


225.1 


206.9 


198.4 


199.1 


214.2 


225.8 


239.3 



(1) Figures are for respective fiscal year-ends of institutions and are shown under nearest calendar year-ends. (2) 
Bank figures. (3) Demand deposits only. (4) Includes non-interest bearing deposits which, for the years 1927-37, ranged 
companies incorporated in Ontario; not available for other companies whose deposits would be a relatively small amount. 



hi' hides Dominion Government Savings 

between $34,000 and $1,924,000. (5) ( Inly 

* Transferred to chartered banks in 1932. 



NET NEW ISSUES OF AND CHANGES IN CHARTERED BANK HOLDINGS OF, GOVERNMENT SECURITIES : 1936-39 

MILLIONS OF DOLLARS CUMULATIVE FROM JAN. 1. 1936 • MILLIONS OF DOLLARS 




JFMAMJJASONDJFMAMJJASONDJFMAMJJASONDJFM 

1936 1937 1938 

ised on delivery dates as distinct from dates of sale. 



M J J 
1939 



75 



IV- 



SECURITY PRICES 

Bank of Canada 









Government Bonds 






Treasury Bills 

Three Months 












Average 


Yield of Successful 


Average of 
















Tenders^ 




Working Days 


Canada* <u 


U. K.* <» 


U.S.A.* < 3 > 


Canada 


U.K. 


U.S.A. 




Price 


Yield 


Price 


Yield 


Price 


Yield 


1938 


99.71 


3.15 


100.79 


3.41 


103.51 


2.61 


.590 


.614 


.055 


1938— Apr. 


99.85 


3.14 


101.39 


3.38 


102.66 


2.68 


.503 


.512 


.061 


May 


100.35 


3.10 


101.51 


3.37 


103.99 


2.58 


.471 


.504 


.027 


June 


100.27 


3.11 


101.70 


3.35 


103.94 


2.58 


.465 


.574 


.016 


July 


100.07 


3.12 


102.50 


3.28 


103.99 


2.58 


.489 


.522 


.054 


Aug. 


99.92 


3.13 


101.99 


3.32 


104.19 


2.56 


.519 


.506 


.047 


Sept. 


98.49 


3.23 


98.26 


3.56 


103.26 


2.63 


.608 


.945 


.106 


Oct. 


99.57 


3.16 


99.44 


3.52 


104.44 


2.54 


.747 


.773 


.018 


Nov. 


100.57 


3.09 


99.42 


3.52 


104.17 


2.56 


.693 


.526 


.027 


Dec. 


100.87 


3.06 


97.99 


3.57 


104.36 


2.55 


.672 


1.003 


.013 


1939— Jan. 


100.86 


3.06 


96.97 


3.61 


104.74 


2.52 


.690 


.534 


Nil 


Feb. 


101.19 


3.04 


96.80 


3.62 


105.15 


2.48 


.681 


.503 


.005 


Mar. 


101.47 


3.01 


96.07 


3.64 


106.47 


2.39 


.665 


.506 


Nil 


Apr. 


100.81 


3.06 


92.80 


3.77 


107.15 


2.34 


.636 


1.560 


.025 


May (s) 


100.26 


3.11 


92.87 


3.77 


108.58 


2.23 


.631 


.669 


.009 



* Differing coupon rates and maturity provisions, and the fact that the U. S. Treasury issue is exempt from "normal" 
comparison of absolute yield levels. 

(1) Average of Dominion of Canada 3% due June 1, 1950-55 and S\i% due June 1, 1956-66. 

(2) United Kingdom i l A% "War Loan" due Dec. 1, 1952 and after; price excluding accrued interest. 

(3) U. S. Treasury 2Ve% due Mar. 15, 1955-60. 

(4) On for nearest to) 15th of each month. (5) Average May 1 - 25 for Bond Prices and Yields. 



LONG TERM DOMESTIC GOVERNMENT BOND YIELDS : CANADA, U.K. & U.S.A. : 1938 



3 00% 



325% 



375% 




*See note above. (1) May 25. 



76 



MAY 1939 



Par Values in Millions of Dollars 



BOND ISSUES AND RETIREMENTS' 

Bank of Canada 



I-Dominion< 2 > Direct & Guaranteed and Other C.N.R. 



Annual Total 
1936 
1937 
1938 

First Quarter 

1936 

1937 
1938 
1939 



129.4 
49.8 
107.6 

82.6 
35.5 

50.0 
44.1 



273.3 
298.5 

178.5 

85.4 
85.0 
48.7 
25.9 



129.4 
49.8 
107.6 

82.6 
35.5 
50.0 
44.1 



273.3 
298.5 
178.5 

85.4 
85.0 

25.9 



Retirements 



273.3 

298.5 
178.5* 

85.4 
85.0 

25.9 



43.3 
38.9 
37.4 

1.8 
6.9 
1.8 
1.1 



Net De- 
liveries 
or Retire 



86.1 
10.9 
70.2 

80.8 
28.6 
48.2 
43.0 



II-Provincial< 2 'Direct & Guaranteed"' 



N3.0 
103.5 
89. 3 

15.7 

14.5 
18.0 
35.2 



40.0 
74.1 

34.1 

1.2 
34.3 
12.6 

1.0 



SO. 9 
105.6 
89.3 

15.7 
15.2 
1S.0 
35.2 



37.0 
34.1 

1.2 
19.8 
12.6 

1.0 



Retirements 



17.0 
96.2 
35.0 

.7 

39.8 

13.5 

1.0 



60.9 
22.6 
36.3 

16.5 
4.2 

16.7 
7.2 



Net De- 
liveries 
or Retire- 
ments 



40.0 
63.9 
52.1 

.3 

9.0 

.4 

28.0 





III Corporations 




Sales 


Deliveries 


Retirements {1) 


Net De- 
liveries 
or Retire- 




New 


Refunding 


New 


Refunding 


Refunded 


Other 


Annual Total 


(7) 




(7) 








(7) 


1936 


89.4 


183.7 


87.4 


175.2 


162.0 


49.1 


51.5 


1937 


58.0 


62.2 


60.1 


70.6 


83.8 


56.7 


9.8 


1938 


31.9 


31.0 


31.0 


30.9 


30.9 


40.7 


9.6 


First Quarter 


(7) 




(7) 








(7. 


1936 


72.8 


59.1 


32.0 


35.7 


18.1 


10.5 


39.0 


1937 


27.8 


33.5 


29.4 


27.9 


39.6 


11.7 


5.9 


1938 


1.4 


.8 


1.3 


.1 


.1 


10.5 


9.2 


1939 


1.6 


60.0 


2.4 


38.1 


17.3 


14.9 


8.3 



I+II+III 



Net Deliveries 

or 
Ret 



177.6 

64.9^ 

112.7* 

119.5 
25.6 
39.5 
79.3 



IV Dominion 
Treasury Bills' 5 ' 



Net De- 
liveries or 
Retire- 
ments 



Total 
outstanding 



57.3 

5.0 

27.3 



150 
150 
155 

At end of 
quarter 

120 
150 
150 
155 



Municipalities 
and Religious 
Institutions 



25.1 
27.1 
31.9 

9.1 

11.1 

9.1 

1.3 



22.9 

3.-). 4 

7.0 

13.9 

28.3 

3.0 

4.5 



Par Values in Millions of Dollars 



SUMMARY OF CHANGES IN CURRENCY OF PAYMENT 1 ' 

DOMINION' 2 ' AND PROVINCIAL* 2 ' DIRECT AND GUARANTEED, OTHER C.N.R. 
AND CORPORATION BONDS' 8 ' 





DELIVERIES were payable in: 


RETIREMENTS^ were payable in: 


Net Increase or 
Net Decrease 




Canada 
only 


New York 
only 


Canada & 
New York 


(9) 
London 


Total 


Canada 
only 


New York 
only 


Canada & 
New York 


Canada, 
New York 
& London 


London 


Total 


Payable 

in Canada 

only 


Payable 
Abroadt 


Annual Total 

1936 


652.8 


126.0 


3.0 


1.4 


783.2 


281.2 


158.8 


33.5 


114.6 


17.5 


605.6 


371.6 


194.0 


1937 


542.5 


93.8 


10.3 


15.2 


661.7 


356.4 


24.2 


127.6 


55.4 


33.1 


596.8 


186.0 


121.1 


1938 


379.8 


40.3 


.2 


51.2 


471.4 


196.9 


49.2* 


24.0 


21.4 


67.3 


358.7* 


182.9 


70.2 


First Quarter 

1936 


155.1 


96.0 


1.5 




252.6 


26.8 


86.4 


7.7 


9.3 


2.9 


133.1 


128.3 


8.8 


1937 


113.4 


93.0 


- 


6.3 


212.7 


38.8 


.3 


108.7 


31.0 


8.3 


187.2 


74.5 


49.0 


1938 


81.9 


- 


- 


- 


81.9 


35.0 


2.9 


1.4 


1.8 


1.5 


42.5 


47.0 


7.5 


1939 


126.5 


20.2 


- 


- 


146.7 


13.0 


4.6 


3.0 


31.6 


15.2 


67.4 


113.5 


34.2 



* The $40 mm. Dominion issue due in New York on 1st Jan., 1939, which was refunded in New York in November, 1938, is for the purposes of this table taken as 
maturing in the last quarter of 1938. t Only or optionally. (1) Subject to revision. (2) Treasury Bills are excluded. For particulars of Dominion Treasury Bills see 
Heading IV. (3) C.N.R. bonds guaranteed by provinces are treated under the heading "'Other C.N.R." (4) Includes retirements through sinking fund purchases. In 
many cases available data did not permit more than arbitrary approximations for separate portions of the fiscal year. (5) Three months Bills, payable in Canada only. 
(6) It was impossible to classify issues of municipalities and religious institutions totalling $4.1 mm. in 1936, $2.5 mm. in 1937 and $4.8 mm. in 1938 between new and 
refunding. In each quarter such issues have been arbitrarily allocated in the same proportions as the known issues in the quarter. Because of lack of sufficient data 
no tabulation of retirements by municipalities and religious institutions was possible. (7) Includes $48 mm. of C.P.R. bonds issued to refund Dominion guaranteed bank 
loans. $12 mm. was delivered in the first quarter and $36 mm. in the second quarter of 1936. (8) Issues of municipalities and religious institutions are not included 
in this tabulation owing to lack ot sufficient information. (9) Including issues payable optionally in Canada or London. 



MAY 1939 



77 



VI 



Millions of Dollars 



INTERNATIONAL PURCHASES AND SALES OF SECURITIES 

Dominion Bureau of Statistics 





Total 

Net Sales 

or 

Net 

Purchases 


Total 
Sales 


Total 
Purchases 


UNITED 


states 


UNITED KINGDOM 


other countries 




Sales 
To 


Purchases 

From 


Sales 
To 


Fitnhuivi 
From 


Sales 
To 


Purchases 
From 


Canadian Bonds 
Dominion 

Dominion Guaranteed 
Provincial 
Municipal 
Other Railway & Corp'n 


3.9 
2.6 
10.0 
1.3 
1.9 


8.3 
5.9 

14.1 
3.5 

10.2 


4.5 
3.3 
4.0 
2.2 
8.4 


5.9 
4.8 
13.7 
1.3 
6.6 


J.6 
2.1 
3.6 

.6 
3.8 


1.7 
.9 

.3 

1.8 
2.6 


.5 

.7 

.3 

1.5 

3.6 


.7 
.3 

.4 
1.0 


.4 
.5 
.1 
.1 
.9 


SUB-TOTAL 


19.7 


42.0 


22.4 


32.3 


13.8 


7.3 


6.6 


2.4 


2.0 


United States Bonds 


3.8 


5.4 


1.6 


5.4 


1.6 


- 


- 


.1 


.1 


Other Countries' Bonds 


.3 


2.1 


1.8 


.3 


.8 


1.4 


.9 


.4 


.1 


Unspecified Bonds 


3.9 


5.7 


1.8 


4.7 


1.7 


.8 


.1 


.2 


- 


TOTAL BONDS 


27.6 


55.2 


27.6 


42.6 


17.9 


9.5 


7.5 


3.1 


2.2 


Common & Pref. Shares 
Canadian 
United States 
Other Countries 


9.2 

7.6 

.5 


29.5 

29.1 

.6 


20.3 

21.5 

.1 


15.7 

28.8 

.1 


13.3 

21.3 

.1 


5.2 
.1 
.5 


5.0 


8.5 
.1 


2.0 
.1 


TOTAL SHARES 


17.3 


59.2 


41.9 


44.7 


34.7 


5.9 


5.1 


8.6 


2.1 


Other Securities 


- 


- 


- 


- 


- 


- 


- 


- 


- 


TOTAL SECURITIES 


44.9 


114.4 


69.5 


87.3 


52.6 


15.4 


12.6 


11.7 


4.3 



INTERNATIONAL NET PURCHASES (-) OR NET SALES (+) OF SECURITIES 



TOTAL 

Millions of Dollars 

50 CUMULATIVE FROM JAN 



BY COUNTRIES 




Millions of Dolla 




J F M A M J J A S O N DJFMAMJJASONOJFMAMJJASOND 



78 



MAY 1939 



VII— INDUSTRIAL ACTIVITY 

Dominion Bureau of Statistics 





Physical 

Volume of 

Business 

Index 

Seasonally 
adjusted 

1926 = 100 


PRODUCTION 


Con- 
struction 
Contracts 
Awarded 


Car 
Loadings 


Employ- 




Gold 


Copper 


Steel 


Auto- 
mobiles 
& Trucks 


News- 
print 


Central 
Electric 
Stations 


Index<» 

Seasonally 
adjusted 

1026=100 




Thousands 
Fine Ounces 


Thousands 
Short Tons 


Thousands 
Long Tons 


Thousands 


Thousands 
Short Tons 


Millions 
Kilowatt Hrs. 


Millions 
of Dollars 


Thousands 


Annual TotalsO 






















1926 


100.0 


1,754 


67.0 


776 


205.0 


1,889 


11,926 


372.9 


3,253 


100.0 


1929 


125.5 


1,928 


124.1 


1,378 


262.6 


2,725 


17,633 


576.7 


3,524 


119.2 


1932 


78.7 


3,044 


123.8 


339 


60.8 


1,919 


15,863 


132.9 


2,176 


86.4 


1933 


79.7 


2,949 


150.0 


410 


65.9 


2,022 


17,553 


97.3 


2,032 


84.2 


1934 


94.2 


2,972 


182.4 


758 


116.9 


2,605 


21,160 


125.8 


2,321 


96.4 


1935 


102.4 


3,285 


209.5 


942 


172.9 


2,765 


23,404 


160.3 


2,358 


99.8 


1936 


112.2 


3,748 


210.5 


1,116 


162.2 


3,225 


25,934 


102.6 


2,494 


104.0 


1937 


122.7 


4,096 


265.0 


1,403 


207.5 


3,674 


27,584 


224.1 


2,635 


114.1 


1938 


112.9 


4,716 


293.7 


1,156 


106.1 


2,625 


25,994 


187.3 


2,429 


111.4 


Monthly Totals 






















1937-Nov. 


127.9 


353.3 


25.4 


110.7 


16.6 


302.2 


2,415 


14.7 


235.1 


118.8 


Dec. 


121.4 


362.2 


24.6 


98.3 


21.1 


293.0 


2,458 


10.8 


204.2 


117.8 


1938-Jan. 


111.8 


361.1 


26.2 


112.4 


17.6 


222.5 


2,281 


9.1 


187.4 


114.7 


Feb. 


106.7 


340.8 


23.4 


99.0 


16.1 


202.6 


2,058 


6.6 


179.7 


112.3 


Mar. 


108.8 


376.0 


24.0 


118.7 


16.8 


224.6 


2,258 


10.4 


199.5 


111.2 


Apr. 


112.4 


368.4 


23.9 


116.4 


18.8 


200.8 


2,004 


15.0 


184.7 


111.5 


1938-Nov. 


123.4 


410.0 


23.7 


90.1 


18.0 


245.3 


3,376 


15.0 


219.2 


111.3 


Dec. 


115.6 


433.9 


24.6 


78.6 


18.7 


209.8 


2,350 


10.5 


178.4 


112.3 


1939- J an. 


113.0 


411.3 


24.1 


78.2 


14.8 


208.4 


2,387 


7.3 


171.4 


110.6 


Feb. 


117.0 


391.0 


20.6 


77.2 


14.3 


200.6 


2,214 


11.3 


159.7 


111.0 


Mar. 


113.2 


414.2 


26.0 


95.7 


17.5 


220.6 


2,367 


9.0 


191.0 


111.1 


Apr. 


US. 6 






99.8 


16.9 


220.8 


2,197 


12.3 


179.0 


110.3 



(1) As at end of month. (2) Average of months in case of Physical Volume of Business and Employment Indexes. 



VIII— VALUE OF AGRICULTURAL PRODUCTION 



Millions of Dollars 






Dominion Bureau of Statistics 




















GROSS 


VALUE 












Field 
Crops (n 


Farm 

Animals 


Dairy 
Products 


Fruits 
and 

Vegetables 


Poultry 
and 
Eggs 


Tobacco 


Fur 
Farming 


Maple 
Products 


All 
Other"' 


Total 
Gross 
Value 


Net 
Value"' 


1926 


1,105 


178 


277 


43 


84 


7 


4 


5 


11 


1,714 


* 


1927 


1,173 


184 


295 


46 


98 


9 


5 


5 


11 


1,826 


* 


1928 


1,125 


198 


298 


49 


107 


7 





6 


12 


1,806 


* 


1929 


949 


207 


292 


46 


108 


6 


7 


(i 


10 


1,631 


1,020 


1930 


662 


107 


237 


49 


95 


7 


5 


5 


8 


1,235 


826 


1931 


436 


97 


191 


40 


56 


7 


4 


3 





840 


550 


1932 


453 


65 


159 


32 


42 


6 


3 


3 


4 


767 


494 


1933 


454 


89 


171 


33 


38 


7 


4 


2 


6 


805 


513 


1934 


549 


99 


173 


43 


46 


7 


5 


3 


6 


931 


576 


1935 


512 


120 


181 


50 


50 


11 


6 


4 


6 


939 


607 


1936 


612 


131 


199 


44 


53 


9 


7 


4 


7 


1,066 


679 


1937 


556 


141 


216 


42 


52 


17 


7 


2 


7 


1,039 


679 


1938 


529 


137 


220 


43 


54 


20 


6 


4 


8 


1,020 


728 



(1) See also page 15 of the February 1939 Statistical Summary, 
of farm products used for seed and feed. *Not available. 



(2J Wool, flax fibre, clover, grass seed, honey and wax. (i) Gross value less estimated value 



MAY 1939 



79 



Millions of Kilowatt Hours 



IX— CENTRAL ELECTRIC STATIONS 

Dominion Bureau of Statistics and Bank of Canada 





Output of Central Electric Stations 


Exports 


Deliveries 

to 
Electric 
Boilers 


Losses 

(Estimated) 


Firm 
Power 
Consump- 
tion 


Daily Average 


Generated 
by 


Generated 
by 


Total 




Water 


Fuel 








(Estimated) 


1926 


32. G 


.5 


33.1 


4.1 


2.7 


4.4 


22.0 


1929 


48.5 


.7 


49.2 


4.0 


5.9 


6.8 


32.5 


1932 


43.0 


.9 


43.9 


1.8 


7.8 


6.3 


28.0 


1933 


46.6 


.9 


47.5 


2.7 


9.9 


6.7 


28.2 


1934 


57.0 


1.0 


58.0 


3.4 


14.6 


8.2 


31.7 


1935 


63.1 


1.1 


64.1 


3.7 


17.1 


9.1 


34.2 


193G 


68.2 


1.2 


69.4 


4.3 


19.0 


9.8 


36.3 


1937 


74.2 


1.4 


75.6 


5.1 


20.0 


10.6 


39.9 


1938 


70.0 


1.2 


71.2 


5.0 


15.9 


9.9 


40.4 


12 Months Ending 
















Apr. 1939 


71.4 


1.2 


72.6 


5.2 


16.3 


10.2 


40.9 


Monthly 
















1937— Nov. 


78.9 


1.6 


80.5 


4.9 


21.0 


11.3 


43.3 


Dec. 


77.7 


1.6 


79.3 


5.1 


21.6 


11.1 


41.4 


1938— Jan. 


72.3 


1.2 


73.6 


5.1 


18.4 


10.3 


39.9 


Feb. 


72.2 


1.3 


73.5 


4.4 


17.9 


10.4 


40.8 


Mar. 


71.7 


1.2 


72.8 


4.6 


17.6 


10.2 


40.4 


Apr. 


67.7 


1.1 


68.8 


4.5 


15.0 


9.6 


39.6 


1938— Nov. 


77.8 


1.4 


79.2 


5.5 


19.9 


11.1 


42.8 


Dec. 


74.4 


1.4 


75.8 


5.2 


17.8 


10.6 


42.2 


1939— Jan. 


75.7 


1.3 


77.0 


5.4 


18.6 


10.7 


42.3 


Feb. 


77.7 


1.4 


79.1 


5.5 


20.4 


1 1.0 


42.1 


Mar. 


75.1 


1.2 


76.3 


5.3 


18.9 


10.7 


41.4 


Apr. 


72.1 


1.1 


73.2 


4.7 


16.5 


11.0 


41.0 



CENTRAL ELECTRIC STATIONS ' OUTPUT IN RELATION TO INSTALLED CAPACITY: 1920-38 

ILLIONS OF HP* p ER CENT 

■sr 




* Installed capacity of 1 H.P. has a potential output of 746 watts per hour 
t The 1938 figure is the total for 1937 plus new installations in 1938. 



80 



MAY 1939 



CANADA 

Dominion Bureau of Statistics 



WHOLESALE PRICE INDEXES 

1926 = 100 

U.K. 

Board of Trade w 



U.S.A. 

Bureau of Labour 







Raw 










Products 


Materials 




factures 




Average of Mths. 












1926 


100.0 


100.0 


100.0 


100.0 


100.0 


1929 


100.8 


97.5 


100.0 


93.0 


95.6 


1932 


48.4 


55.0 


61.5 


69.8 


66.7 


1933 


51.0 


56.6 


63.8 


70.2 


67.1 


1934 


59.0 


63.5 


69.7 


73.4 


71.6 


1935 


63.5 


66.0 


70.4 


72.8 


72.1 


1936 


69.4 


70.8 


73.4 


73.6 


74.6 


1937 


87.0 


84.2 


81.2 


80.4 


84.5 


1938 


73.6 


72.8 


77.4 


78.2 


78.6 


Monthly 












1938-Apr. 


82.5 


79.0 


80.6 


81.3 


82.3 


May 


77.3 


75.8 


78.4 


79.4 


80.3 


June 


76.6 


75.3 


79.2 


79.2 


80.1 


July 


71.5 


72.5 


79.0 


78.4 


78.6 


Aug. 


64.2 


67.5 


75.8 


77.0 


76.0 


Sept. 


63.8 


65.6 


74.3 


75.6 


74.5 


Oct. 


63.8 


65.1 


73.0 


74.8 


74.1 


Nov. 


64.9 


64.6 


72.0 


74.0 


73.5 


Dec. 


64.6 


64.9 


75.0 


73.6 


73.3 


1939-Jan. 


64.8 


64.8 


71.7 


73.5 


73.3 


Feb. 


64.7 


64.9 


71.9 


73.6 


73.2 


Mar. 


65.1 


65.1 


72.2 


73.2 


73.2 


Apr. 


65.5 


65.5 


72.3 


73.3 


73.4 



Foods 


Total 


100.0 


100.0 


93.9 


92.1 


71.8 


69.1 


67. S 


69.2 


69.5 


71.1 


71.0 


71.8 


75.0 


76.2 


S3. 7 


87.8 


79.7 


81.9 


S2.0 


83.2 


S2.1 


82.3 


81.3 


81.3 


80.0 


81.2 


77.5 


80.3 


75.2 


79.4 


75.7 


80.0 


7-1.1 


79.4 


75.1 


79.3 


75.7 


78.4 


74.5 


78.1 


73.7 


78.0 


74.8 


78.4 





Raw 




Manu- 




Products 


Materials 


Foods 


factures 


Total 


100.0 


100.0 


100.0 


100.0 


100.0 


104.9 


97.5 


99.9 


94.5 


95.3 


48.2 


55.1 


61.0 


70.3 


64.8 


51.4 


56.5 


60.5 


70.5 


65.9 


65.3 


68.6 


70.5 


78.2 


74.9 


78.8 


77.1 


83.7 


82.2 


80.0 


80.9 


79.!) 


S2.1 


82.0 


80.8 


86.4 


84.8 


S5.5 


S7.2 


86.3 


68.5 


72.0 


73.6 


82.2 


78.6 


(iS. 4 


71.3 


72.3 


82.7 


78.7 


67.5 


70.7 


72.1 


S2.1 


78.1 


68.7 


71.4 


73.1 


82.2 


78.3 


69.4 


72.3 


74.3 


82.5 


78.8 


67.3 


71.4 


73.0 


81.8 


78.1 


68.1 


72.0 


74.5 


81.8 


78.3 


66.8 


70.9 


73.5 


81.1 


77.6 


67.8 


71.5 


74.1 


80.5 


77.5 


67.6 


70.9 


73.1 


80.2 


77.0 


67.2 


70.9 


71.5 


80.0 


76.9 


67.2 


70.9 


71.5 


80.2 


76.9 


65.8 


70.1 


70.2 


SO. 2 


76.7 


63.7 


6S.5 


68.6 


80.1 


76.2 



WHOLESALE PRICE INDEXES: MANUFACTURED COMMODITIES: CANADA, U.K. & U.S.A.: 1936-39 

INDEX INDEX 

izor 




DJTMAMJJASONDJFMAMJJASONDJFMAMJJA 
1936 1937 1938 

(1) Board of Trade Index of Manufactured Articles. (2) Bureau of Labour Index of Prices of Finished Products. 
(3) D.B.S. Index of Fully and Chiefly Manufactured Commodities; includes Newsprint. 



81 



Canadian Dollars* 



XI— WHOLESALE PRICES: CHIEF COMMODITIES 

Dominion Bureau of Statistics and Engineering & Mining Journal 





Wheat 


Flour 


Newsprint 


Pulp 


Lumber 


Copper 


Steel 


Cotton 


Gasoline 


Coal 




No. 1 
Northern 


First 
Patent 




Bleached 
Sulphite 


Fir 
Flooring 


Electro- 
lytic 


Billets 


Middling 


Tank 
Wagon 


American 
Bituminous 




Lake-head 


Montreal 


f.o.b. Mills 


f.o.b. Mills 


f.o.b. Mills 


London' 1 ' 


f.o.b. Plant 


Hamilton 


Toronto 


Toronto' 21 




bushel 


barrel 


short ton 


short ton 


M. bd. ft. 


cwt. 


long ton 


pound 


gallon 


short ton 


Annual Average 

1926 


1.50 


8.82 


65.0 


80.0 


26.0 


13.8 


38.0 


.194 


.253 


6.47 


1929 


1.34 


7.93 


55.0 


75.0 


24.8 


18.3 


36.0 


.199 


.199 


6.02 


1932 


.56 


4.81 


50.2 


55.0 


14.5 


6.3 


34.0 


.085 


.179 


5.65 


1933 


.61 


5.09 


37.1 


52.5 


14.3 


7.5 


34.0 


.106 


.173 


5.35 


1934 


.75 


5.50 


32.9 


55.0 


14.5 


7.4 


34.0 


.138 


.163 


5.73 


1935 


.84 


5.43 


33.4 


53.5 


15.1 


7.8 


34.0 


.138 


.158 


5.86 


1936 


.94 


6.08 


34.2 


53.0 


22.2 


9.5 


34.2 


.141 


.149 


6.75 


1937 


1.34 


7.73 


30.1 


65.6 


27.0 


13.1 


41.2 


.137 


.159 


6.75 


1938 


1.02 


6.49 


43.4 


59.5 


23.6 


10.0 


40.0 


.106 


.158 


6.75 


Monthly 






















1938— Apr. 


1.38 


7.48 


43.2 


64.0 


24.0 


9.7 


42.0 


.109 


.160 


6.75 


May 


1.15 


7.00 


43.3 


60.0 


22.0 


9.1 


42.0 


.109 


.160 


6.75 


June 


1.14 


7.20 


43.5 


59.0 


22.0 


9.2 


42.0 


.106 


.160 


6.75 


July 


.98 


6.75 


43.2 


59.0 


24.8 


9.8 


38.0 


.109 


.160 


6.75 


Aug. 


.77 


6.00 


43.1 


59.0 


25.8 


10.0 


38.0 


.104 


.160 


6.75 


Sept. 


.63 


5.17 


43.2 


59.0 


24.8 


10.2 


38.0 


.100 


.160 


6.75 


Oct. 


.62 


5.03 


43.4 


56.0 


24.0 


11.0 


38.0 


.107 


.150 


6.75 


Nov. 


.59 


4.88 


43.3 


54.0 


22.0 


10.8 


38.0 


.107 


.150 


6.75 


Dec. 


.61 


4.83 


43.4 


52.0 


22.0 


10.3 


38.0 


.103 


.150 


6.75 


1939— Jan. 


.60 


4.88 


43.3 


52.0 


22.0 


10.2 


38.0 


.106 


.150 


6.75 


Feb. 


.60 


4.95 


43.2 


52.0 


22.0 


10.0 


38.0 


.106 


.150 


6.75 


Mar. 


.60 


4.95 


43.2 


52.0 


22.0 


10.1 


38.0 


.105 


.150 


6.75 


Apr. 


.61 


4.95 


43.2 


52.0 


23.0 


10.0 


38.0 


.102 


.150 


6.75 



Prices have been converted into Canadian Funds 



necessary. (1) New York price prior to June l')32. (2) Montreal price prior 



DOLLARS 

100 



WHOLESALE PRICES = FOREST PRODUCTS 

RATIO SCALE 




1926 27 28 29 30 
* F.O.B. Mills converted 



31 32 33 34 35 36 
Canadian Funds where necessary 



82 



MAY 1939 



XII 



Millions of Dollars 



-EXTERNAL TRADE : MERCHANDISE IMPORTS* 

Compiled from Trade of Canada, Dominion Bureau of Statistics 





From 


Total 
Imports 


Re-Exports 


Total 
Retained 
Imports 


Excess of 




U.K. 


Other 
British 


U.S.A. 


Other 
Foreign 


Exports 
or Imports 


Calendar Year Totals 


















1926 


165 


50 


669 


125 


1,008 


15 


993 


299 


1927 


182 


58 


707 


139 


1,087 


20 


1,067 


176 


1928 


191 


63 


826 


142 


1,222 


24 


1,198 


182 


1929 


195 


62 


894 


148 


1,299 


26 


1,273 


84 


1930 


163 


65 


654 


127 


1,008 


19 


989 


86 


1931 


109 


43 


394 


82 


628 


12 


616 


28 


1932 


94 


35 


264 


61 


453 


8 


445 


115 


1933 


98 


35 


217 


51 


401 


6 


395 


216 


1934 


113 


44 


294 


63 


513 


7 


507 


256 


1935 


117 


57 


312 


64 


550 


13 


537 


306 


1936 


123 


66 


370 


77 


635 


13 


622 


447 


1937 


147 


89 


491 


82 


809 


15 


794 


349 


1938 


119 


67 


425 


67 


677 


11 


666 


333 


12 Months Ending 


















April 1939f 


116* 


65* 


413* 


65* 


651 


10 


641 


358 


Monthly 


















1938— Jan. 


8.9 


4.1 


32.3 


4.4 


49.7 


1.2 


48.5 


32.8 


Feb. 


8.8 


3.1 


31.2 


3.9 


47.0 


.8 


46.1 


24.7 


Mar. 


11.5 


5.4 


42.9 


5.3 


65.1 


.9 


64.2 


26.7 


Apr. 


9.2 


3.9 


31.4 


4.5 


48.9 


.7 


48.2 


12.0 


1939— Jan. 


7.1 


3.9 


28.8 


3.9 


43.7 


.7 


43.0 


45.2 


Feb. 


7.2 


2.5 


27.0 


3.6 


40.4 


.7 


39.7 


30.8 


Mar. 


11.1 


4.4 


38.4 


4.5 


58.4 


.8 


57.6 


27.2 


Apr.f 










41.9 


.7 


41.2 


19.6 



^Excluding gold. *12 Months ending March 1939. 



IMPORTS (EXCLUDING GOLD) : PERCENTAGE DISTRIBUTION BY COUNTRIES: 1926-39 



CALENDAR YEAR TOTALS 



100% 




1927 1928 1929 1930 1931 

♦Running 12-month totals in 1937-39. 



AY 1939 



XII 



EXTERNAL TRADE : MERCHANDISE EXPORTS 

Compiled from Trade of Canada, Dominion Bureau of Statistics 



Millions of Dollars 
























Merchandise (Excluding Gold) 


Non-Monetary Gold 






To 


Total 


Exports 


Domestic 
Monetary 
Purchase 


Imports 


Estimated 
Net Change 
in Gold 
held for 
Acct. of 

Foreigners 


Exports 
including 
Net Non- 




U.K. 


Other 
British 


U.S.A. 


Other 
Foreign 


Monetary 
Gold 


Calendar Year Totals 






















1926 


459 


96 


458 


248 


1,261 


9.5 


21.7 


.8 


- 


1,292 


1927 


410 


90 


467 


244 


1,210 


12.3 


24.7 


4.8 


- 


1,243 


1928 


446 


99 


481 


312 


1,339 


25.7 


15.4 


1.0 


- 


1,380 


1929 


290 


105 


493 


264 


1,152 


35.8 


2.3 


.9 


- 


1,190 


1930 


235 


81 


373 


174 


864 


22.3 


17.3 


.7 


- 


903 


1931 


171 


49 


240 


128 


588 


32.7 


24.6 


A 


- 


645 


1932 


178 


39 


159 


114 


490 


61.0 


9.3 


.3 


- 


560 


1933 


211 


45 


168 


106 


529 


79.1 


2.6 


- 


- 


611 


1934 


270 


65 


219 


95 


649 


109.5 


4.2 


.1 


~ 


763 


1935 


304 


74 


262 


86 


725 


117.3 


2.0 


.6 


- 


844 


1936 


395 


84 


334 


124 


938 


85.0 


- 


.7 


47.0 


1,069 


1937 


402 


104 


360 


131 


997 


113.0 


12.2 


.3 


20.3 


1,143 


1938 


340 


103 


270 


125 


838 


136.5 


4.2 


57.8 


77.7 


999 


12 Months Ending 






















April 1939f 


324 


102 


284 


121 


831 


129.0 


25.3 


68.9 


83.1 


999 


Monthly 






















1938— Jan. 


33.6 


9.0 


20.0 


7.7 


70.3 


11.0 


- 


- 


- 


81.3 


Feb. 


27.3 


7.7 


16.8 


7.8 


59.6 


11.2 


- 


- 


- 


70.8 


Mar. 


27.8 


10.6 


22.7 


12.3 


73.3 


8.3 


- 


- 


9.3 


90.9 


Apr. 


18.7 


6.2 


18.0 


8.0 


50.9 


4.7 


- 


- 


4.6 


60.2 


1939— Jan. 


25.6 


10.2 


25.3 


9.0 


70.1 


11.0 


6.7 


./ 


.5 


88.1 


Feb. 


22.8 


7.1 


19.7 


8.0 


57.6 


4.2 


8.6 


1.9 


2.1 


70.5 


Mar. 


26.1 


9.6 


24.7 


9.0 


69.3 


7.0 


2.7 


2.9 


8.6 


84.8 


Apr.f 


17.0 


5.3 


20.9 


7.2 


50.3 


5.5 


3.1 


6.2 


8.1 


60.8 



*For explanation of headings, see foot-notes to table on page 43 of the March 1939 Statistical Summary. 



EXPORTS (EXCLUDING GOLD) : PERCENTAGE DISTRIBUTION BY COUNTRIES : 1926-39 

CALENDAR YEAR TOTALS * 



100% 



100% 




1927 1926 1929 1930 

►Running 12-month totals in 1937-39. 



84 



MAY 19; 



XIII-INTERNATIONAL TOURIST TRADE 

Dominion Bureau of Statistics and Department of Mines and Resources 





FOREIGN AUTOMOBILES ENTERING 
CANADA FOR TOURING PURPOSES 


Total 

Automobiles 

leaving 
Canada for 
Touring 
Purposes 


TOURISTS ENTRIES 
INTO CANADA 


Estimated 
Expendi- 
tures by 
Foreign 
Tourists 
in Canada 


Estimated 
Expendi- 
tures by 

Canadian 

in other 
Countries 


Canadian 

Balance 

of 




Via 
Ocean 
Ports 


Via 

U.S.A. 

Boundary 


Total 






On 24 Hour 
Permits 


On 60 Day 
Permits 


On 6 Month 
Permits 


Total 


on 
Tourist 
Account 






Thousands 




Thousands 


Millions of Dollars 


1926 


1,522 


551 


4.2 


2,076 


346 


9 


9,010 


9,019 


201 


99 


102 


1927 


2,410 


740 


3.3 


3,154 


496 


10 


12,140 


12,150 


238 


109 


130 


1928 


2,699 


946 


1.2 


3,645 


520 


10 


15,449 


15,459 


275 


108 


168 


1929 


3,417 


1,091 


1.2 


4,509 


620 


10 


18,847 


18,857 


309 


122 


188 


1930 


4,110 


1,297 


2.3 


5,409 


595 


9 


21,063 


21,072 


279 


100 


179 


1931 


3,439 


1,470 


.7 


4,910 


537 


10 


19,342 


19,352 


251 


76 


174 


1932 


3,070 


1,033 


.4 


4,104 


377 


8 


14,998 


15,006 


212 


57 


155 


1933 


2,233 


863 


.3 


3,097 


417 


7 


12,883 


12,891 


117 


51 


66 


1934 


2,374 


888 


.3 


3,262 


514 


9 


13,215 


13,224 


146 


64 


82 


1935 


2,633* 


971 


1.1 


3,605 


659 


9 


14,760 


14,769 


215 


96 


119 


1936 


2,880* 


1,193 


1.3 


4,075 


690 


10 


16,398 


16,407 


251 


110 


141 


1937 


3,127* 


1,383 


1.4 


4,512 


756 


12 


18,248 


18,260 


291 


124 


166 


1938 


3,082* 


1,264 


1.6 


4,347 


788 


22 


17,085 


17,107 


273 


124 


150 



►On 48 hour permits. 



INTERNATIONAL TOURIST EXPENDITURES : 1925-38 



MILLIONS OF DOLLARS 



LIONS OF DOLLARS 




S5 





V1ILLIONS OF ACRES 


MILLIONS OF ACRES 


100 
80 

60 




ACREAGE 




TOTAL- 


~^ 






^ -^ 












GERMANY, 


RANCE & ITALY v 




20 
15 




7 ^ EASTERN EUR 


OPE* 


vy 






lllllllll 


' OTHER 


till 



XIV— EUROPEAN WHEAT STATISTICS t 

Foo^ Research Institute 

RUNNING 3-YEAR AVERAGES 



MILLIONS OF BUSHELS 



MILLIONS OF BUSHELS 



'23 '28 '33 "38 




.IONS OF BUSHELS 



LLIONS OF BUSHELS 



>ooo 




MILLIONS OF BUSHELS 



MILLIONS OF BUSHELS 



2000 600 



1500 400 



1000 200 



NET IMPORTS 




1921 '22 '23 '24 '25 '26 '27 '26 '29 '30 '31 '32 '33 '34 '35 '36 '37 '38 



1921 '22 '23 '24 '25 '26 '27 '28 '29 '30 '31 '32 '33 '34 '35 '36 '37 '38 



UNE 1939 



86 



Millions of Dollars 

450 



BANK OF CANADA 

SOURCES AND DISTRIBUTION OF CASH 

MONTHLY AVERAGE OF WEDNESDAY FIGURES 



Millions of Dollars 

450 




S O N D J F 



1937 



M J J A S O 

1938 



j r m a m j 

1939 



4JJASONDJ FMAMJJASO 

1937 1938 



F M A M J 

1939 



87 



Millions of Dollars 



(1) Includes "Other Securities". 



(2) Estimates. 



JUNE 1939 

I-B 





LIABILITIES 




Chartered Bank Cash 


Govt. 
Deposits 


Other 
Deposits 


Active 

B. of C. 

Note 

Circulation 


All 

Other 

Accounts 


To 
Liabi 




Notes 
in Tills 


Deposits 

at 
B. of C. 


Total 


Average of 


















Wednesday Figures 


















1935- 9 Mths. 


37.2 


176.5 


213.7 


23.9 


.7 


48.9 


6.8 


294 


1936-12 Mths. 


40.4 


184.7 


225.1 


22.5 


1.0 


64.0 


9.4 


322 


1937-12 Mths. 


49.8 


191.4 


241.2 


25.8 


1.2 


90.6 


13.5 


372 


1938-12 Mths. 


56.0 


199.6 


255.6 


22.8 


2.1 


105.9 


12.5 


39S 


1938— May 


54.9 


193.3 


248.2 


16.4 


2.8 


102.1 


14.4 


383 


June 


53.0 


190.8 


243.8 


42.4 


2.1 


101.4 


15.1 


404 


July 


55.1 


192.6 


247.7 


16.0 


2.0 


101.3 


13.7 


38C 


Aug. 


55.4 


199.8 


255.2 


13.3 


1.6 


104.3 


12.9 


387 


Sept. 


60.2 


205.5 


265.7 


21.4 


1.0 


111.5 


9.3 


408 


Oct. 


62.0 


216.2 


278.2 


28.6 


1.4 


118.4 


9.5 


436 


Nov. 


58.3 


219.9 


278.2 


26.6 


1.5 


116.4 


10.5 


433 


Dec. 


59.6 


204.6 


264.2 


28.4 


2.3 


115.6 


10.1 


420 


1939— Jan. 


61.1 


210.4 


271.5 


23.6 


3.3 


107.5 


10.1 


416 


Feb. 


53.4 


207.0 


260.4 


31.8 


3.1 


106.0 


10.4 


411 


Mar. 


52.1 


205.3 


257.4 


19.3 


4.3 


107.2 


9.1 


397 


Apr. 


56.1 


203.7 


259.8 


20.4 


8.0 


109.4 


9.0 


406 


May 


55.4 


206.3 


261.7 


27.1 


8.0 


110.8 


9.8 


417 


Wednesdays 


















June 7 


55.5 (2> 


206.1 


261.6 (2> 


25.8 


5.5 


1 1 1 .0 <2) 


10.1 


414 


14 


55.6 (2) 


205.3 


260.9 (2) 


32.5 


4.6 


110.0 (2> 


9.0 


417 


21 


56.4 (2) 


200.9 


257.3 ,2) 


36.2 


4.7 


108.6 (2) 


8.9 


415 



MILLIONS OF DOLLARS 



NOTE CIRCULATION: 1936-39 

BANK. OF CANADA ACTIVE CIRCULATION AND TOTAL CHARTERED BANK NOTE ISSUE 



MILLIONS OF DOLLARS 




JUNE 1939 
\NADA 



Millions of Dollars 



ASSETS 




Reserve 


Securities 


Advances 


All 
Other 






Silver 


Foreign 


Total 


Reserve 


Dom.-Prov. 


Dom.-Prov. 


Total (1) 






Currencies 


Reserve 


Ratio 


Short 


Long 






























Average of 
Wednesday Figures 


R 


1.4 


10.3 


166.2 


57.87 


25.6 


94.0 


119.6 


4.1 


4.0 


1935- 9 Mths. 


7 


1.8 


11.4 


192.9 


61.69 


37.0 


86.3 


123.2 


1.7 


4.2 


1936-12 Mths. 


1 


2.5 


20.4 


204.8 


57.11 


57.9 


98.4 


162.2 


- 


5.1 


1937-12 Mths 


D 


.9 


28.7 


210.6 


54.50 


122.5 


53.0 


181.2 


.9 


6.3 


1938-12 Mths 


^ 


.4 


24.4 


206.1 


55.78 


120.7 


39.0 


170.9 


- 


7.0 


May— 1938 


^ 




37.7 


219.6 


56.34 


113.3 


51.9 


171.3 


- 


14.0 


June 


H 


_ 


26.5 


207.3 


56.48 


114.5 


52.5 


167.8 


- 


5.6 


July 


T 


_ 


26.0 


206.5 


55.17 


121.3 


52.5 


173.8 


- 


6.9 


Aug. 


5 


_ 


32.9 


214.4 


53.65 


139.8 


48.9 


188.7 


- 


5.8 


Sept. 


\ 


_ 


36.2 


217.6 


51.02 


161.9 


46.1 


208.0 


4.8 


5.6 


Oct. 


?, 


_ 


39.8 


220.9 


52.27 


162.2 


42.5 


204.7 


2.0 


5.6 


Nov. 


1 


- 


40.9 


223.3 


54.40 


151.0 


40.5 


191.4 


- 


5.9 


Dec. 


\ 


_ 


31.1 


219.5 


54.09 


140.1 


41.6 


181.7 


- 


14.7 


Jan.— 1939 


f) 


_ 


42.1 


236.8 


59.01 


128.8 


39.1 


167.9 


- 


7.0 


Feb. 


R 


_ 


32.3 


233.9 


60.26 


129.8 


28.6 


158.4 


- 


5.0 


Mar. 


R 


_ 


33.2 


238.9 


60.09 


133.7 


28.5 


162.3 


- 


5.4 


Apr. 


9 


- 


35.6 


241.5 


59.23 


122.8 


43.7 


166.5 


— 


9.5 


May 

Wednesdays 


4 


- 


37.1 


242.4 


60.01 


113.3 


52.4 


165.7 


- 


5.9 


June 7 


i 


_ 


42.2 


247.8 


60.74 


111.9 


52.4 


164.3 


- 


4.9 


14 


7 


- 


45.9 


251.6 


61.83 


107.8 


52.1 


159.9 


- 


4.3 


21 



CHARTERED BANKS : CANADIAN DEPOSITS : 1936-39 



MILLIONS Or DOLLARS 

2600 



2500 



MILLIONS Or DOLLARS 

2600 



2500 



2400 



2300 



2200 




2400 



2300 



2200 



JAN. FEB MAR. APR. 



JUNE JULY AUG. SEPT. OCT. NOV. DEC 



89 



Millio?is of Dollars 



JUNE 1939 



II— CHA | 







LIABILITIES 






Notes 


Deposits 


Cash 

in 
Canada'" 


Securities 








Dom. 


Canadian 


Foreign 


Total 


DOM.-PROV. 












and Prov. 


Deposits' 


Deposits'-' 


Short 1 Long 




Average of 






















Month-end Hgures 






















1926 


169 


553 


1,341 


53 


1,958 


330 


2,333 


197 


344 




1929 


178 


696 


1 ,4 NO 


102 


2,293 


418 


2,837 


212 


342 ] 




1932 


132 


486 


1,376 


82 


1,955 


312 


2,322 


186 


490 




1933 


130 


489 


1,379 


62 


1,941 


30S 


2,290 


195 


627 




1934 


136 


514 


1,373 


66 


1,966 


322 


2,317 


203 


684 




1935 


126 


569 


1 ,445 


65 


2,104 


348 


2,476 


216 


407 


454 ] 




1936 


119 


618 


1,518 


77 


2,245 


401 


2,668 


225 


447 


628 




1937 


110 


691 


1,574 


90 


2,382 


421 


2,840 


240 


445 


674 




1938 


100 


690 


1,630 


94 


2,449 


408 


2,892 


252 


447 


696 j 




1938— May 


97 


670 


1 ,625 


107 


2,438 


404 


2,880 


241 


448 


700 ; 




June 


104 


690 


1,621 


14S 


2,484 


410 


2,939 


242 


437 


719 




July 


101 


671 


1 ,623 


101 


2,445 


397 


2,862 


235 


422 


717 l 




Aug. 


99 


687 


1,635 


96 


2,460 


400 


2,878 


257 


435 


710 S 




Sept. 


104 


725 


1,633 


89 


2,492 


425 


2,937 


264 


445 


684 2 




Oct. 


101 


749 


1,656 


75 


2,518 


419 


2,961 


286 


451 


669 2 




Nov. 


97 


750 


1,655 


94 


2,506 


436 


3,004 


271 


448 


693 2 




Dec. 


95 


734 


1,660 


106 


2,498 


420 


2,986 


257 


469 


693 3 




1939— Jan. 


90 


700 


1 ,667 


90 


2,501 


430 


2,954 


269 


464 


697 




Feb. 


94 


690 


1,691 


89 


2,514 


432 


2,974 


261 


481 


711 : 




Mar. 


97 


705 


1,700 


86 


2,538 


452 


3,021 


253 


528 


671 ; 




Apr. 


95 


716 


1,697 


97 


2,551 


468 


3,050 


255 


511 


692 ; 




May 


90 


684 


1 ,678 


162 


2,567 


484 


3,080 


260 


444 


754 : 



CHARTERED BANKS : CASH IN CANADA ■ 1936-39 



ILLIONS OF DOLLARS 



MILLIONS OF DOLLARS 




JAN. TEB. MAR APR. MAY JUNE JULY AUG. SEPT. OCT. NOV. DEC 



JUNE 1939 
BANKS 



Millions of Dollars 



ASSETS 




Loans 






CANADA 


ABROAD 


Total 
Assets 


1 


Call 


Current 
Public 


Current 
Other 


Call 


Current 


1 


140 


934 


87 


250 


261 


2,864 


J 


267 


1 ,343 


112 


301 


248 


3,528 


s 


117 


1,032 


165 


84 


172 


2,869 


1 


102 


907 


147 


92 


148 


2,831 


7 


102 


869 


145 


107 


138 


2,838 


4 


82 


829 


134 


72 


146 


2,957 


1 


93 


699 


121 


64 


150 


3,145 


S 


107 


732 


117 


68 


165 


3,317 





67 


786 


129 


51 


158 


3,349 


9 


66 


769 


130 


58 


162 


3,332 


2 


69 


786 


135 


53 


181 


3,399 


6 


71 


786 


134 


53 


152 


3,322 





71 


781 


132 


55 


144 


3,334 


1 


60 


829 


136 


45 


143 


3,400 


9 


66 


848 


137 


52 


142 


3,424 


6 


64 


837 


133 


48 


148 


3,455 


3 


65 


806 


134 


51 


152 


3,431 


4 


63 


792 


127 


56 


148 


3,396 





60 


787 


133 


54 


145 


3,421 


9 


56 


801 


142 


49 


144 


3,471 


9 


54 


814 


142 


44 


143 


3,496 


4 


55 


822 


142 


50 


141 


3,521 



DAILY AVERAGE DATA 




Cash 




Ratio of 


Total 




Canadian 


Cash to 


Active 




Canada' 3 ' 


Deposits' 4 ' 


Deposits in 
Canada 


Note 
Circulation' 5 ' 












Average ot 
Daily Figures 


192 


1,958 


9.8 


195 


1926 


191 


2,293 


8.3 


205 


1929 


172 


1,955 


8.8 


158 


1932 


189 


1,941 


9.8 


157 


1933 


201 


1,966 


10.2 


163 


1934 


213 


2,108 


10.1 


169 


1935 


225 


2,213 


10.2 


182 


1936 


240 


2,357 


10.2 


200 


1937 


254 


2,412 


10.5 


205 


1938 


247 


2,401 


10.3 


199 


May— 1938 


243 


2,421 


10.0 


200 


June 


245 


2,444 


10.0 


201 


July 


254 


2,426 


10.5 


201 


Aug. 


263 


2,442 


10.8 


214 


Sept. 


277 


2,474 


11.2 


220 


Oct. 


279 


2,487 


11.2 


214 


Nov. 


261 


2,473 


10.6 


216 


Dec. 


209 


2,473 


10.9 


195 


Jan. — 1939 


260 


2,466 


10.6 


197 


Feb. 


257 


2,485 


10.3 


201 


Mar. 


258 


2,520 


10.2 


204 


Apr. 


261 


2,531 


10.3 


202 


May 



nthly average Canadian deposits in 1936 and after. 



CHARTERED BANKS = CASH IN CANADA AND CANADIAN DEPOSITS = 1936-39 

MILLIONS OF DOLLARS BILLIONS OF DOLLARS 



2250 




2 75 



250° 



225 



2 25 



91 



JUNE 1939 









III- 


-SECURITY PRICES 


















Bank 


of Canada 














Dominion of Canada Bonds Payable in Canada Only 

Middle Prices and Yields 


Average of 
Working Days 


l\i% due 
1956 


June 1, 
-66 


3% due 
1950 


fune 1, 
-55 


3M%due 
1946 


June 1, 
-49 


5% due Oct. 15, 
1943 


2% due June 1, 
1942 




Price 


Yield 


Price 


Yield 


Price 


Yield 


Price 


Yield 


Price 


Yield 


1938 


100.41 


3.22 


99.01 


3.08 


102.73 


2.86 


113.51 


2.27 


101.38 


1.63 


1938— May 
June 
July 
Aug. 


100.79 
101.02 
100.93 
100.63 


3.19 
3.18 
3.18 
3.20 


99.91 
99.51 
99.20 
99.21 


3.01 
3.04 
3.06 
3.06 


103.44 
103.41 
103.05 
102.94 


2.77 
2.77 
2.82 
2.83 


114.51 
114.76 
113.73 
113.46 


2.15 
2.06 
2.22 
2.23 


101.97 
102.10 
101.93 
101.53 


1.50 
1.45 
1.49 
1.58 


Sept. 
Oct. 
Nov. 
Dec. 


99.02 
100.24 
101.39 
101.94 


3.30 
3.23 
3.15 
3.10 


97.96 
98.89 
99.75 
99.80 


3.16 
3.09 
3.02 
3.02 


101.59 
102., 30 
103.25 
103.44 


3.02 
2.91 
2.77 
2.74 


112.34 
112.62 
113.66 
113.48 


2.41 
2.31 
2.06 
2.06 


100.83 
101.14 
101.94 
101.90 


1.77 
1.68 

1.44 
1.44 


1939— Jan. 
Feb. 
Mar. 
Apr. 
May 
June (1) 


101.99 
102.44 
102.46 
101.53 
101.33 
102.24 


3.10 
3.07 
3.07 
3.13 
3.15 
3.08 


99.72 

99.94 

100.48 

100.08 

99.47 

100.43 


3.02 
3.01 
2.95 
2.99 
3.04 
2.95 


103.70 
103.85 
104.02 
103.10 
102.88 
104.33 


2.69 
2.67 
2.63 
2.77 
2.80 
2.57 


112.97 
112.85 
112.80 
112.00 
111.62 
111.96 


2.12 
2.09 
2.06 
2.19 
2.22 
2.10 


101.67 
101.49 
101.61 
101.22 
101.07 
101.23 


1.49 
1.53 
1.48 
1.61 
1.64 
1.57 



(1) Average June 1-23. 



CANADIAN AND U.K. GOVERNMENT BOND YIELDS = 1938-39 



2-90% 



310% 



330% 



3-50% 



3-70% 




290% 



310% 



330% 



350% 



3-70% 



& i note on opposite page. (1) Average June 1-16. (2) Average June 1-23. 



|UNE 1939 



92 



III— SECURITY PRICES 

Bank of Canada 









Government Bonds Payable Elsewhere Than 

Middle Prices and Yields 


in Canada 








U.S. Treasury* 


United Kingdom* 


Dominion 


of Canada* 


Dominion Guaranteed C.N.R.* 


Average of 
Working Days 


2j8%dueMar.l5, 
1955-60 


2U% due June 15, 
1952-57 


3M%dueJan 15, 
1956-61 


334% due May 1, 
1950-55 


4}^% due Feb. 1, 
1956 


4^% due July 1, 
1957 




Domestic 


Domestic 


Payab 
New Yo 


e in 
k only 


Payable in 
London only 


Payable in Canada, 
New York or London 


Payable in 
Canada or New York 




Price 


Yield 


Price ' 


Yield'" 


Price 


Yield 


Price 


Yield W 


Price 


Yield 


Price"' 


Yield 


1938 

1938-May 
June 
July 

Aug. 

Sept. 

Oct. 

Nov. 

Dec. 

1939-Jan. 
Feb. 
Mar. 
Apr. 
May 
June"' 


103.51 

103.99 
103.94 
103.99 

104.19 
103.26 
104.44 
104.17 
104.36 

104.74 
105.15 
106.47 
107.15 
108.70 
109.59 


2.61 
2.58 

2.58 
2.58 

2.56 
2.63 
2.54 
2.56 
2.55 

2.52 
2.48 
2.39 
2.34 
2.22 
2.15 


95.35 

96.35 
96.44 
96.61 

96.70 
94.37 
94.02 
93.73 
92.86 

91.66 
91.83 
91.76 
88.34 
90.76 
92.25 (4) 


3.08 

3.00 
3.00 
2.99 

2.98 
3.15 
3.16 
3.20 
3.27 

3.36 
3.35 
3.36 
3.63 
3.44 
3.33 w 


102.37 

102.27 
102.56 
102.98 

103.48 
102.39 
102.85 
103.47 
103.53 

104.01 
104.04 
103.43 
102.64 
103.91 
104.92 


3.07 

3.07 
3.06 
3.03 

2.99 
3.07 
3.04 
2.99 
2.99 

2.95 
2.95 
2.99 
3.05 
2.96 
2.88 


100.06 

100.63 
101.00 
101.20 

100.98 
98.62 
99.82 
99.78 
99.45 

99.60 
98.60 
98.47 
97.39 
98.89 
98.82 


3.24 

3.19 
3.15 
3.13 

3.15 
3.36 
3.27 
3.27 
3.29 

3.28 
3.36 
3.37 
3.46 
3.34 
3.35 


115.63 

116.32 
116.60 
116.22 

116.05 
114.31 
115.61 
116.40 
116.07 

116.24 
116.35 
116.52 
115.52 
115.56 
116.74 


3.32 

3.28 
3.26 
3.28 

3.29 
3.40 
3.31 
3.25 
3.27 

3.25 
3.24 
3.22 
3.29 
3.28 
3.19 


115.13 

115.54 
115.81 
115.54 

115.51 
113.84 
115.30 
116.46 
116.35 

116.37 
116.43 
116.46 
115.49 
115.63 
116.86 


3.41 

3.39 
3.37 
3.38 

3.38 
3.49 
3.39 
3.31 
3.31 

3.31 
3.30 
3.30 
3.36 
3.34 
3.26 



Differing coupon rates and maturity provisions, and the fact that the U.S. Treasury issue is exempt from "normal" income tax, vitiate any direct 
nmparison of absolute yield levels. (1) These issues are quoted in London to include accrued interest but are given here excluding interest. (2) Price in 
foronto in Canadian funds. (3) Average June 1-23. (4) Average June 1-16. 



CANADIAN AND U.S.A. GOVERNMENT BOND YIELDS: 1938-39 



2-25% 



2-50% 



275% 



325% 




225% 



250% 



300% 



325% 



; See note above. (1) Average June 1-23 



93 



JUNE 1939 



IV— STOCK EXCHANGE STATISTICS 
MONTREAL AND TORONTO STOCK EXCHANGES 

Stock Exchange Bulletins 















Common Stock Price Indexes 






















Value o 
Traded dui 


f Shares 
ing Month 




on Canadian Collateral 


All Listed Stocks 


Montreal Stock 


Toronto Stock 














Exchange 


Exchange 








Millions of Dollars 


Millions 


of Dollars 


1926 


= 100 


July-Dec. 


1933 = 100 


Millions 


of Dollars 




Montreal 


en 

Toronto 


Total 


(1) 
Montreal 


(1) 
Toronto 


20 

Industrials 


10 
Utilities 


20 
Golds 


10 
Base Metals 


Montreal 


(l) 
Toronto 


(2) 

1936-Low 


16.1 


21.8 


39.7 


4,711 


4,713 


70 


67 


116 


67 


* 


39 


High 


33.4 


40.2 


73.6 


6,158 


5,912 


109 


86 


156 


115 


* 


90 


(2) 

1937-Low 


17.5 


27.8 


45.3 


4,780 


4,565 


66 


65 


96 


64 


20 


26 


High 


43.8 


46.7 


86.1 


6,743 


6,458 


122 


93 


169 


137 


94 


96 


(2) 

1938-Low 


13.4 


20.3 


33.7 


4,263 


4,086 


61 


60 


103 


64 


15 


26 


High 


17.1 


27.8 


44.9 


5,376 


5,069 


88 


69 


126 


101 


32 


49 


Month-end. 
























May 


13.6 


23.0 


36.6 


4,583 


4,389 


68 


62 


113 


73 


15 


26 


June 


14.0 


23.6 


37.6 


4,958 


4,734 


80 


69 


117 


86 


20 


31 


July 


16.2 


25.7 


41.9 


5,196 


4,960 • 


88 


67 


126 


96 


32 


41 


Aug. 


16.3 


25.4 


41.8 


5,022 


4,782 


SO 


66 


122 


89 


23 


38 


Sept. 


13.4 


20.3 


33.7 


4,995 


4,852 


SO 


64 


120 


91 


29 


40 


Oct. 


14.5 


21.4 


35.9 


5,376 


5,069 


85 


67 


122 


101 


31 


49 


Nov. 


15.0 


22.4 


37.4 


5,252 


4,984 


82 


65 


122 


100 


25 


38 


Dec. 


15.5 


23.3 


38.8 


5,322 


5,044 


85 


64 


126 


101 


20 


28 


1939-Jan. 


13.9 


21.6 


35.5 


5,101 


4,854 


79 


63 


124 


95 


22 


34 


Feb. 


13.3 


20.9 


34.2 


5,200 


4,927 


79 


66 


126 


96 


15 


23 


Mar. 


12.8 


16.7 


29.5 


4,794 


4,556 


70 


64 


116 


86 


25 


30 


Apr. 


10.7 


15.4 


26.1 


4,750 


4,547 


69 


64 


113 


84 


17 


24 


May 


10.9 


15.7 


26.6 


4,881 


4,760 


73 


66 


122 


88 


14 


17 



(1) Including Curb Market. (2) Monthly figures except in the case of Common Stock Prices where daily figures were used. 



COMMON STOCK PRICES: CANADA, U.K. AND U.S. A.: 1936-39 



RATIO SCALE 




JFMAMJJASONDJFMAMJJASONDJFMAMJJASONDJFMAMJ 

1936 1937 1938 1939 

Toronto Stock Exchange Index of 20 Industrial Stocks. July-Doc. 1933= 100, and Montreal Index as given in table above. ( 1) June 23. 



JUNE 1939 



94 



V— INDUSTRIAL ACTIVITY 

Dominion Bureau of Statistics 





Physical 
Volume of 


PRODUCTION 


Con- 


Car 

Loadings 


Employ- 




Business 
Index 


Gold 


Nickel 


Steel 


Auto- 
mobiles 


News- 


Central 
Electric 


Contracts 


Index<» 




Seasonally 








& Trucks 




Stations 






Seasonally 
adjusted 
























Thousands 


Thousands 


Thousands 


Thousands 


Thousands 


Millions 


Millions 








1926 = 100 


Fine Ounces 


Short Tons 


Long Tons 


Short Tons 


Kilowatt Hrs. 


of Dollars 




1926 = 100 


Annual Totalstt) 






















1926 


100.0 


1 ,754 


33.0 


776 


205.0 


1,889 


11,926 


372.9 


3,253 


100.0 


1929 


125.5 


1,928 


55.1 


1,378 


262.6 


2,725 


17,633 


576.7 


3,524 


119.2 


1932 


78.7 


3,044 


15.2 


339 


60. S 


1,919 


15,863 


132.9 


2,176 


86.4 


1933 


79.7 


2,949 


41.6 


410 


65.9 


2,022 


17,553 


97.3 


2,032 


84.2 


1934 


94.2 


2,972 


64.3 


758 


116.9 


2,605 


21,160 


125.8 


2,321 


96.4 


1935 


102.4 


3,285 


69.3 


942 


172.9 


2,765 


23,404 


160.3 


2,358 


99.8 


1936 


112.2 


3,748 


84.9 


1,116 


162.2 


3,225 


25,934 


162.6 


2,494 


104.0 


1937 


122.7 


4,096 


112.5 


1,403 


207.5 


3,674 


27,584 


224.1 


2,635 


114.1 


1938 


112.9 


4,716 


105.1 


1,156 


166.1 


2,625 


25,994 


187.3 


2,429 


111.4 


Monthly Totals 






















1938-Jan. 


111.8 


361.1 


10.1 


112.4 


17.6 


222.5 


2,281 


9.1 


187.4 


114.7 


Feb. 


106.7 


340.8 


8.0 


99.0 


16.1 


202.6 


2,058 


6.6 


179.7 


112.3 


Mar. 


108.8 


376.0 


8.6 


118.7 


16.8 


224.6 


2,258 


10.4 


199.5 


111.2 


Apr. 


112.4 


368.4 


10.2 


116.4 


18.8 


200.8 


2,064 


15.0 


184.7 


111.5 


May 


110.7 


381.1 


9.3 


114.9 


18.1 


207.7 


2,082 


18.6 


190.2 


111.9 


1939-Jan. 


113.0 


411.3 


7.4 


78.2 


14.8 


208.4 


2,387 


7.3 


171.4 


110.6 


Feb. 


117.0 


391.0 


8.7 


77.2 


14.3 


200.6 


2,214 


11.3 


159.7 


111.0 


Mar. 


113.2 


414.2 


9.0 


95.7 


17.5 


220.6 


2,367 


9.0 


191.0 


111.1 


Apr. 


118.6 


406.8 


9.2 


99.8 


16.9 


220.8 


2,197 


12.3 


179.0 


110.3 


May 


121.4 






121.4 


15.7 


250.0 


2,333 


18.4 


214.5 


113.1 



(1) As at end of month. (2) Average of months in case of Physical Volun 



iusiness and Employment Indexes. 



PRODUCTION OF STEEL INGOTS AND CASTINGS = 1937-39 



THOUSANDS OF LONG TONS 



THOUSANDS Or LONG TONS 




95 



JUNE 1939 



Millions of Dollars 



VI— CONSTRUCTION CONTRACTS AWARDED 

Compiled from MacLean Building Reports Limited 





Private Contracts 


Public 
Contracts 


Total 
Con- 


Distribution by Areas 
























Resi- 
dential 


Industrial 


Business 


Engin- 
eering 


Total 
Private 


Awarded 


tracts 


Maritime 


Quebec 


Ontario 


Western 


Annual Totals 
























1926 


109.6 


79.7 


84.3 


25.0 


298.5 


74.4 


372.9 


8.4 


151.9 


141.9 


70.7 


1927 


124.9 


40.0 


124.1 


26.6 


315.6 


103.4 


419.0 


9.5 


133.2 


196.2 


80.1 


1928 


139.2 


63.3 


131.0 


43.8 


377.3 


94.8 


472.1 


36.2 


188.4 


144.2 


103.3 


1929 


128.9 


03.0 


139.6 


99.4 


431.0 


145.7 


576.7 


20.2 


187.8 


215.8 


152.9 


1930 


93.3 


31.5 


84.6 


90.3 


299.7 


157.3 


457.0 


19.4 


154.7 


175.5 


107.4 


1931 


81.7 


14.8 


34.4 


51.2 


182.0 


133.5 


315.5 


16.9 


106.1 


125.5 


67.0 


1932 


28.9 


7.8 


20.5 


15.6 


72.8 


60.0 


132.9 


9.3 


52.6 


49.3 


21.7 


1933 


23.9 


9.1 


16.3 


9.0 


58.2 


39.1 


97.3 


7.2 


32.5 


42.6 


15.0 


1934 


30.6 


8.0 


19.3 


13.1 


71.1 


54.7 


125.8 


10.0 


34.1 


63.4 


18.3 


1935 


36.4 


10.3 


19.8 


22.1 


88.6 


71.7 


160.3 


14.4 


44.5 


70.9 


30.6 


1936 


42.9 


15.0 


24.3 


30.0 


112.1 


50.5 


162.6 


17.9 


45.7 


72.4 


26.5 


1937 


56.2 


33.8 


33.4 


28.0 


151.4 


72.6 


224.1 


21.6 


71.9 


97.8 


32.8 


1938 


55.0 


16.0 


32.1 


23.2 


126.3 


61.0 


187.3 


19.5 


65.8 


73.1 


28.9 


12 Months Ending 
























May 1939 


61.1 


18.3 


31.7 


15.6 


126.7 


59.0 


185.6 


17.1 


65.0 


77.1 


26.5 


Monthly Totals 
























1938-Mar. 


2.1 


.3 


2.9 


2.5 


7.9 


2.5 


10.4 


1.1 


2.S 


3.8 


2.7 


Apr. 


5.3 


2.2 


2.0 


2,2 


11.6 


3.4 


15.0 


1.3 


4.2 


6.5 


3.0 


May 


7.7 


1.4 


3.5 


1.7 


14.3 


4.3 


18.6 


2.2 


6.2 


8.0 


2.3 


1939-Mar. 


3.7 


.9 


1.8 


2 


6.6 


2.4 


9.0 


.4 


3.7 


3.4 


1.5 


Apr. 


5.8 


1.0 


2.7 


.1 


9.6 


2.7 


12.3 


.9 


3.6 


5.8 


1.9 


May 


7.3 


4.5 


3.4 


- 


15.2 


3.2 


18.4 


1.3 


4.3 


10.9 


2.0 



CONSTRUCTION = RESIDENTIAL CONTRACTS AWARDED AND HOUSING ACT LOANS : 1936-39 

MILLIONS OF DOLLARS RATIO SCALE MILLIONS OF DOLLARS 




JFMAMJJASONDJFMAMJJASONDJF 

1936 1937 

♦Dominion Housing Act prior to August, 1938. 



M J J A S O 
1938 



JUNE 1939 



96 



VII— AGRICULTURE 1 

VALUE, YIELD AND ACREAGE OF GRAIN CROPS 



Millions 








Do 


minion du 


reau oj sic 


USllCS 














WHEAT 


OATS 


BARLEY 


TOTAL GRAINS 




Acreage 


Bushels 


$ Value 


Acreage 


Bushels 


$ Value 


Acreage 


Bushels 


$ Value 


Acreage 


Bushels 


$ Value 


Calendar Years 

Aver. 1926-30 
" 1931-35 

1936 
1937 
1938 


23.9 
25.5 

25.6 
25.6 
25.9 


435.7 
320.8 

219.2 
180.2 
350.0 


379.1 

151.6 

205.3 

184.7 
205.4 


13.0 
13.6 

13.3 
13.0 
13.0 


396.2 
348.6 

271.8 
268.4 
371.4 


178.4 

86.2 

116.3 

114.1 

89.6 


4.7 
3.8 

4.4 
4.3 

4.5 


114.2 

71.8 

71.9 
83.1 
102.2 


56.0 
22.0 

49.5 
42.0 

28.4 


44.8 
45.6 

46.1 
45.7 
46.1 


1,020.4 
801.2 

617.3 
587.5 

889.9 


669.2 

284.4 

405.8 
373.5 
351.0 



PROVINCIAL DISTRIBUTION 
1937 



Maritimes 


_ 


.5 


.6 


.5 


10.8 


6.3 


_ 


.6 


.5 


.6 


13.7 


8.7 


Quebec 


.1 


.9 


1.1 


1.6 


35.9 


22.0 


.2 


3.6 


2.9 


2.2 


46.9 


31.1 


Ontario 


.8 


20.3 


19.9 


2.3 


73.8 


31.0 


.6 


16.0 


9.4 


5.0 


151.3 


81.9 


Manitoba 


2.9 


45.1 


46.0 


1.4 


43.1 


16.4 


1.4 


34.8 


16.4 


5.9 


126.6 


81.5 


Saskatchewan 


13.9 


36.0 


37.8 


4.4 


22.3 


8.5 


1.2 


5.5 


2.5 


20.2 


64.7 


49.6 


Alberta 


7.8 


75.7 


77.2 


2.8 


77.0 


27.0 


1.0 


22.1 


9.9 


11.8 


176.4 


115.2 


Br. Columbia 


.1 


1.8 


2.0 


.1 


5.6 


2.9 


- 


.5 


•4 


■2 


8.2 


5.5 



Maritimes 


_ 


.4 


.4 


.5 


13.8 


5.6 


_ 


.8 


.6 


.6 


17.0 


7.8 


Quebec 


.1 


.8 


.7 


1.7 


38. 5 


20.8 


.2 


4.2 


2.8 


2.3 


49.8 


28.8 


Ontario 


.8 


21.4 


12.5 


2.3 


82.1 


23.8 


.5 


16.6 


6.8 


4.9 


165.4 


60.6 


Manitoba 


3.2 


51.0 


31.1 


1.5 


41.0 


7.8 


1.4 


31.0 


7.8 


6.4 


127.3 


48.1 


Saskatchewan 


13.8 


132.0 


76.6 


4.2 


90.0 


14.4 


1.2 


20.0 


4.4 


19.7 


246.6 


97.2 


Alberta 


8.0 


143.0 


82.9 


2.9 


101.0 


15.2 


1.1 


29.2 


5.8 


12.2 


276.6 


104.9 


Br. Columbia 


.1 


1.4 


1.2 


.1 


5.0 


2.0 


- 


.4 


.2 


.2 


7.1 


(3.5 



t In continuation of table on pages 16 and 17 of the October 1937 Summary. For want 
corn for husking, are omitted; 1937 and 1938 figures for Acreage. Bushels, and $ Value, i 



WHEAT 



ACREAGE, YIELD AND PRICE : 1910 

RATIO SCALE 



38 




'20 '21 '22 '23 '24 '25 '26 '27 '28 '29 '30 



'33 34 35 36 '37 



♦Average price to farr 



97 



JUNE 1939 



VIII 



CANADA 

Dominion Bureau of Statistics 



WHOLESALE PRICE INDEXES 

1926 = 100 

















Products 


Materials 


Foods 


factures 




Average of Mths. 












1926 


100.0 


100.0 


100.0 


100.0 


100.0 


1929 


100.8 


97.5 


100.0 


93.0 


95.6 


1932 


48.4 


55.0 


61.5 


69.8 


66.7 


1933 


51.0 


56.6 


63.8 


70.2 


67.1 


1934 


59.0 


63.5 


69.7 


73.4 


71.6 


1935 


63.5 


66.0 


70.4 


72.8 


72.1 


1936 


69.4 


70.8 


73.4 


73.6 


74.6 


1937 


87.0 


84.2 


81.2 


80.4 


84.5 


1938 


73.6 


72.8 


77.4 


78.2 


78.6 


Monthly 












1938-May 


77.3 


75.8 


78.4 


79.4 


80.3 


June 


76.0 


75.3 


79.2 


79.2 


80.1 


July 


71.5 


72.5 


79.0 


78.4 


78.6 


Aug. 


64.2 


67.5 


75.8 


77.0 


76.0 


Sept. 


63.8 


65.6 


74.3 


75.6 


74.5 


Oct. 


63.8 


65.1 


73.0 


74.8 


74.1 


Nov. 


64.9 


64.6 


72.0 


74.0 


73.5 


Dec. 


64.6 


64.9 


75.0 


73.6 


73.3 


1939-Jan. 


64.8 


64.8 


71.7 


73.5 


73.3 


Feb. 


64.7 


64.9 


71.9 


73.6 


73.2 


Mar. 


65.1 


65.1 


72.2 


73.2 


73.2 


Apr. 


65.5 


65.5 


72.3 


73.3 


73.4 


May 


65.2 


66.5 


72.2 


73.2 


73.7 



U.K. 


Board of Trade™ 


Foods 


Total 

100.0 


100.0 


93.9 


92.1 


71.8 


69.1 


67. S 


69.2 


69.5 


71.1 


71.0 


71.8 


75.0 


76.2 


83.7 


87.8 


79.7 


81.9 


82. 1 


82.3 


81.3 


81.3 


80.0 


81.2 


77.5 


80.3 


75.2 


79.4 


75.7 


80.0 


74.1 


79.4 


75.1 


79.3 


75.7 


78.4 


74.5 


78.1 


73.7 


78.0 


74.8 


78.4 


75.2 


78.9 



U.S.A. 

Bureau of Labour 



Farm 
Products 


Raw 
Materials 


Foods 


Manu- 
factures 
m 


Total 


100.0 


100.0 


100.0 


100.0 


100.0 


104.9 


97.5 


99.9 


94.5 


95.3 


48.2 


55.1 


61.0 


70.3 


64.8 


51.4 


56.5 


60.5 


70.5 


65.9 


65.3 


68.6 


70.5 


78.2 


74.9 


78. S 


77.1 


83.7 


82.2 


80.0 


SO. 9 


79.9 


82.1 


82.0 


80.8 


86. 4 


S4.S 


85.5 


87.2 


86.3 


68.5 


72.0 


73.6 


82.2 


78.6 


67.5 


70.7 


72.1 


82.1 


78.1 


68.7 


71.4 


73.1 


82.2 


78.3 


69.4 


72.3 


74.3 


82.5 


78.8 


67.3 


71.4 


73.0 


81.8 


78.1 


68.1 


72.0 


74.5 


81.8 


78.3 


66.8 


70.9 


73.5 


81.1 


77.6 


67. 8 


71.5 


74.1 


80.5 


77.5 


67.6 


70.9 


73.1 


80.2 


77.0 


67.2 


70.9 


71.5 


80.0 


76.9 


67.2 


70.9 


71.5 


80.2 


76.9 


65.8 


70.1 


70.2 


SO. 2 


76.7 


63.7 


68.5 


68.6 


80.1 


76.2 


63.7 


68.9 


68.2 


79.9 


76.2 



1926=100 

110 



INDUSTRIAL MATERIAL PRICE INDEXES : 1926 

Dominion Bureau of Statistics 



39 




I926 '27 '28 '29 '30 '31 "32 '33 '34 '35 '36 '37 '38 1934 1935 1936 1937 1938 1939 

(1) Wheat, oats, sugar, steers and hogs. (2) Rubber, linseed oil, cottonseed oil, rosin, beef hides, cotton, wool, silk, manila hemp, lead, zinc, copper and 
tin ingots. (3) Spruce lumber, fir lumber, pulp (unbleached sulphite), pulp (bleached sulphite), iron ore, scrap iron, structural shapes, merchant bars, steel 
sheets, crude oil, coal, and white lead. 



JUNE 1939 



98 



IX 



Index 1926 = 100 



COST OF LIVING INDEXES 

Dominion Bureau of Statistics 





Food 

30% 


Fuel 

6% 


Clothing 
18% 


Rents 

20% 


Sundries 

26% 


Fuel, 

Clothing, 

Household 

Requirements 


Foods, Fuel, 

Clothing, 

Household 

Requirements 


Total 

100% 


Average of Months 

1926 


100.0 


100.0 


100.0 


100.0 


100.0 


100.0 


100.0 


100.0 


1927 


98.1 


97.9 


97.5 


98.8 


99.1 


97.9 


97.9 


98.4 


192S 


9S.6 


96.9 


97.4 


101.2 


98.8 


97.3 


97.9 


98.9 


1929 


101.0 


96.4 


96.9 


103.3 


99.0 


96.9 


98. 9 


99.9 


1930 


98.6 


95.7 


93.9 


105.9 


99.4 


94.9 


96.7 


99.2 


1931 


77.3 


94.2 


82.2 


103.0 


97.4 


87.3 


82.5 


89.6 


1932 


64.3 


91.4 


72.3 


94.7 


94.6 


80.3 


72.6 


81.3 


1933 


63.7 


87.7 


67.1 


85.1 


92.6 


76.2 


70.1 


77.5 


1934 


69.4 


87.7 


69.7 


80.1 


92.1 


77.7 


73.7 


78.6 


1935 


70.4 


86.8 


69.9 


81.3 


92.2 


77.5 


74.1 


79.1 


1936 


73.4 


86.4 


70.5 


83.7 


92.8 


78.0 


75.9 


80.8 


1937 


77.3 


N4.9 


72.7 


S6.9 


93.4 


70.x 


78.6 


83.1 


1938 


78.0 


85.2 


73.3 


89.8 


94.1 


80.6 


79.3 


84.1 


Monthly 

1938— Sept. 


77.6 


84.8 


73.4 


90.3 


94.0 


80.5 


79.1 


84.1 


Oct. 


77.1 


85.1 


73.4 


90.1 


93.9 


80.6 


78.9 


83.9 


Nov. 


76.6 


85.5 


73.4 


90.1 


94.2 


SO. 6 


78.7 


83.8 


Dec. 


76.2 


85.7 


72.8 


90.1 


94.2 


80.3 


7S.3 


83.6 


1939— Jan. 


75.2 


85.7 


72. S 


90.1 


94.2 


80.3 


77.8 


83.3 


Feb. 


74.5 


85.5 


72.8 


90.1 


94.2 


80.3 


77.5 


83.1 


Mar. 


74.5 


85.4 


72.8 


90.1 


94.1 


80.2 


77.4 


83.1 


Apr. 


74.5 


85.2 


72.8 


90.1 


94.3 


80.2 


77.4 


83.1 


May 


74.6 


84.6 


72.8 


90.0 


94.3 


80.1 


77.4 


83.1 



(1) Components were selected and weighted on the basis of a family income of $2,000-$2,500 in the years 1926-9. 



COST OF LIVING INDEXES : 1926-39 

1926 = 100 



110 



100 



90 



80 



70 



ANNUAL AV 


ERAGES * 


l\ x 


RENTS 


\ \ \ 


ALL OTHER / 


rooos ^A 




■ v 


( ||N 



1926 27 28 - 29 '30 - 3I "32 '33 '34 '35 '36 '37 
♦Running 12-month averages in 1938-39. 




Millions of Dollars 



EXTERNAL TRADE : MERCHANDISE IMPORTS 
VALUE BY CHIEF COMMODITY CLASSIFICATIONS 

Compiled from Trade of Canada, Dominion Bureau of Statistics 





Fruits, 
Nuts and 
Vegetables 


Sugar 
and 

Products 


Rubber 

and 
Products 


Petroleum 
Asphalt 

and 
Products 


Coal and 

Coke 
Products 


Textiles 

and 
Fibres 


Iron 
and 
Steel 


Machinery 

and 
Vehicles 


Non- 
ferrous 
Metal 
Products 


Chemical 
Products 


All 
Other 


Total 
Merchandise 
Imports (1) 


Calendar Year Totals 
























- " 


1926 


40 


38 


30 


53 


67 


184 


95 


125 


51 


31 


294 


1,008 


1929 


50 


28 


23 


78 


64 


199 


134 


20S 


91 


40 


385 


1,299 


1932 


27 


17 


4 


43 


35 


69 


29 


38 


22 


28 


141 


453 


1933 


22 


16 


5 


31 


31 


70 


29 


32 


18 


24 


124 


401 


1934 


2G 


17 


10 


41 


40 


84 


42 


52 


26 


28 


147 


513 


1935 


28 


19 


10 


44 


38 


85 


50 


02 


34 


30 


152 


550 


1930 


33 


21 


12 


50 


40 


99 


55 


80 


35 


32 


178 


635 


1937 


36 


21 


19 


59 


42 


115 


86 


125 


47 


37 


221 


809 


1938 


30 


21 


11 


56 


39 


S7 


58 


105 


38 


35 


197 


677 


12 Months Ending 


























May 1939"' 


30 (2) 


20 <2) 


12 (2) 


56 (2) 


39 (2) 


S4 <2> 


53 (2> 


98 (2 ' 


36 (2) 


35 (2) 


18S <2) 


651 


Monthly Totals 


























1937— Dec. 


2.4 


1.3 


1.3 


2.7 


3.4 


6.6 


4.8 


9.6 


3.5 


2.3 


15.3 


53.1 


1938— Jan. 


1.9 


.7 


.8 


2.4 


3.2 


■ 8.0 


4.0 


8.8 


3.3 


2.1 


14.5 


49.7 


Feb. 


1.7 


.5 


.5 


2.1 


2.9 


8.0 


4.0 


8.3 


3.0 


2.3 


13.7 


47.0 


Mar. 


2.5 


.8 


1.0 


2.8 


3.3 


9.8 


5.1 


12.4 


3.8 


3.0 


20.6 


65.1 


Apr. 


2.3 


.9 


.6 


2.5 


1.9 


6.2 


4.2 


10.0 


2.9 


2.4 


15.0 


48.9 


May 


3.4 


3.1 


1.4 


6.6 


3.5 


6.9 


6.0 


11.2 


3.6 


3.3 


18.3 


67.1 


1938— Dec. 


2.1 


1.2 


1.0 


2.1 


3.0 


5.5 


3.9 


7.4 


2.6 


2.2 


13.3 


44.3 


1939— Jan. 


2.0 


.5 


1.2 


2.6 


3.0 


7.0 


3.2 


6.7 


2.4 


2.2 


12.9 


43.7 


Feb. 


1.7 


.5 


./ 


2.1 


3.0 


7.0 


3.0 


6.0 


2.2 


2.1 


12.2 


40.4 


Mar. 


2.7 


.8 


1.2 


2.8 


3.4 


9.3 


4.0 


11.2 


3.4 


2.S 


16.9 


58.4 


Apr. 

May <3) 


2.0 


1.2 

* 


.8 

* 


2.1 


1.8 

* 


5.2 

* 


3.0 


8.5 


2.3 


2.2 


12.8 


41.9 
73.0 



(1) Includes imports destined for re-export. 



sending April lyjy. (3) Preliminary. 



Not yet av.iil.iblc. 



MERCHANDISE TRADE BALANCE : 1925-39 





MILLIONS or DOLLARS 










MILLIONS OF DOLLARS 


400 




RUNNING 12- MONTH TOTALS 




/: : : : : : x ; : : :\. „ fxport balanc 


: EXPORT BALAN 


:t- 












X/px. 




200 














x : x : : : : ; x : - : : ; : ; : : : : : : : : : : x ; : : : : v; : : : : : x : :-\ /. 















































m^MmMi 














?()() 


1 1 1 


jT "-- — IMPORT BALANCE 




, 




, 



400 



200 



200 



1925 1926 1927 1928 1929 

* Includes Non-monetary Gold. 



JUNE 1939 



100 



Millions of Dollars 



EXTERNAL TRADE : MERCHANDISE EXPORTS 

VALUE BY CHIEF COMMODITY CLASSIFICATIONS 

Compiled from Trade of Canada, Dominion Bureau of Statistics 





Grains 


Cattle. 


Butter 


Furs, 


Lumber 


Paper, 


Non-ferrous 


Machinery 


All 


Total Mdse. 


Non- 






and 


Meat 


and 


Skins and 


and 


Wood Pulp 


Metals 


and 


Exports 


Monetary 


Total 




Flour 


and Fish 


Cheese 


Raw 
Leather 


Shingles 


Pulpwood 


other than 
Gold 


Vehicles 


Other 


excluding 
Gold") 


Gold 

(2) 




Calendar Year Totals 


























1926 


474 


81 


28 


34 


71 


188 


75 


60 


251 


1,261 


30 


1,292 


1929 


322 


65 


19 


38 


56 


212 


118 


75 


248 


1,152 


37 


1,190 


1932 


160 


27 


10 


14 


15 


110 


44 


12 


98 


490 


70 


560 


1933 


146 


35 


9 


18 


21 


100 


67 


15 


119 


529 


82 


611 


1934 


162 


49 


7 


20 


30 


120 


90 


28 


144 


649 


114 


763 


1935 


166 


55 


8 


23 


33 


129 


116 


38 


156 


725 


119 


844 


1936 


269 


69 


13 


27 


43 


150 


134 


36 


196 


938 


132 


1,069 


1937 


161 


85 


14 


27 


52 


190 


195 


48 


226 


997 


145 


1,143 


1938 


120 


70 


13 


21 


41 


154 


180 


43 


196 


838 


161 


998 


12 Months Ending 


























May 1939 <3) 


117 


72 


14 


24 


45 


156 


178 


42 


196 


844 


170 


1,014 


Monthly Totals 


























1937— Dec. 


11.3 


5.9 


.4 


1.9 


3.1 


16.1 


13.1 


3.4 


19.9 


75.1 


16.4 


91.5 


1938— Jan. 


11.6 


6.5 


.1 


4.1 


3.0 


10.5 


14.6 


4.2 


15.7 


70.3 


11.0 


81.3 


Feb. 


6.0 


5.1 


.1 


2.6 


2.8 


9.6 


15.0 


4.6 


13.8 


59.6 


11.2 


70.8 


Mar. 


7.0 


6.8 


,2 


1.9 


3.9 


12.8 


17.7 


5.3 


17.7 


73.3 


17.6 


90.9 


Apr. 


3.3 


4.3 


.3 


.8 


2.3 


10.5 


13. S 


3.4 


12.2 


50.9 


9.3 


60.2 


May 


6.1 


6.0 


.6 


1.3 


2.8 


13.0 


16.6 


4.2 


16.4 


67.0 


14.3 


81.3 


1938— Dec. 


11.1 


5.3 


1.1 


3.1 


3.4 


17.6 


12.5 


3.1 


16.7 


68.9 


11.6 


80.5 


1939— Jan. 


6.6 


7.6 


.5 


5.2 


4.1 


11.6 


14.1 


5.0 


15.4 


70.1 


18.1 


88.1 


Feb. 


4.9 


5.1 


.7 


2.6 


3.2 


9.2 


14.2 


3.7 


14.0 


57.6 


12.9 


70.5 


Mar. 


5.5 


6.1 


.6 


2.3 


4.3 


13.0 


16.3 


4.5 


16.7 


69.3 


15.5 


84.8 


Apr. 


2.8 


5.4 


.2 


1.1 


3.2 


9.6 


13.5 


2.4 


12.1 


50.3 


10.6 


60.9 


May"' 


11.3 


6.7 


1.0 


1.6 


3.7 


14.3 


18.6 


4.5 


18.2 


79.9 


15.9 


95.8 



(1) Exports of Canadian produce. (2) For definition and further details see page 101. (3) Preliminary. 



MERCHANDISE TRADE BALANCE: 1925-39 



MILLIONS Or DOLLARS 

1500 



MILLIONS OF DOLLARS 

1500 



1000 



1000 




1925 1926 1927 1928 

Includes Non-monetary Gold. 



101 



XI— GOLD EXPORT AND IMPORT STATISTICS* 

Dominion Bureau of Statistics and Bank of Canada 
TOTAL 



1936-39 







EXPORTS 






IMPORTS 




























Net 
Exports 

or 
Imports 


INCREASE OR 

DECREASE 

IN GOLD HELD 

FOR ACC'T OF 

FOREIGNERS 

(2) 


Net 

Exports 

(Adjusted) 






RAW 


BULLION 


COIN 


Total 


BUIXION 


COIN 


Total 


of Net 

Exports 

(Adjusted) 

(3) 




Thousands of fine ounces 


$ mm. 


Annual Totals 

1936 


172 


2,039 


215 


2,427 


5 


17 


22 


2,405 


1 ,352 


3,757 


131.6 


1937 


211 


3,030 


344 


3,585 


6 


1 


7 


3,578 


580 


4,158 


145.1 


193S 


240 


1,935 


1,725 


3,901 


L.640 


10 


1,651 


2,250 


2,219 


4,469 


156.3 


Monthly Totals 

1938— Jan. 


21 


_ 


295 


316 


_ 


_ 




316 




316 


11.0 


Feb. 


16 


- 


304 


320 


- 


- 


- 


320 


- 


320 


11.2 


Mar. 


26 


- 


213 


240 


- 


- 


- 


240 


265 


505 


17.6 


Apr. 


11 


- 


124 


135 


- 


- 


- 


135 


132 


267 


9.3 


May 


23 


- 


116 


139 


744 


- 


744 


605 


1,011 


406 


14.3 


1939— Jan. 


20 


294 


- 


314 


1 


1 


2 


312 


13 


325 


11.3 


Feb. 


16 


103 


- 


119 


52 


2 


54 


65 


60 


125 


4.4 


Mar. 


25 


178 


- 


203 


73 


7 


80 


123 


245 


368 


12.8 


Apr. 


13 


145 


- 


158 


163 


14 


177 


20 


233 


213 


7.5 


May* 


22 


380 


2 


404 


4,614 


58 


4,671 


4,267 


4,721 


454 


15.9 









MONETARY 


AND NON-MONETARY 












MONETARY 14 ' 


NON-MONETARY (4) 




EXPORTS 


IMPORTS 


DOMESTIC 
MONETARY 
PURCHASE 

(5) 


Net 
Exports 

or 

Imports 

(Adjusted) 


DOMESTIC 
MONETARY 
PURCHASE 

(5) 


EXPORTS 


IMPORTS 


NET 
INCREASE OR 

DECREASE 

IN GOLD HELD 

FOR ACC'T OF 

FOREIGNERS 

(2) 


Net 

Exports 

(Adjusted) 


Value 
of Net 
Exports 

(3) 


Percentage 
of Total 
Merchan- 
dise 
Exports 






Th 


msands of fi 


He ounces 








$mm. 


Per cent 


Annual Totals 

1936 




_ 








2,427 


22 


1 ,352 


3,757 


131.6 


12.3 


1937 


348 


- 


348 


- 


348 


3,237 


7 


580 


4,158 


145.1 


12.7 


1938 


- 


- 


122 


122 


122 


3,901 


1,651 


2,219 


4,591 


160.5 


16.1 


Monthly Totals 

1938— Jan. 












316 




_ 


316 


11.0 


13.5 


Feb. 


- 


- 


- 


- 


- 


320 


- 


- 


320 


11.2 


15.8 


Mar. 


- 


- 


- 


- 


- 


240 


- 


265 


505 


17.6 


19.4 


Apr. 


- 


- 


- 


- 


- 


135 


- 


132 


267 


9.3 


15.4 


May 


- 


- 


- 


- 


- 


139 


744 


1,011 


406 


14.3 


17.6 


1939— Jan. 


_ 


- 


192 


192 


192 


314 


2 


13 


516 


18.1 


20.5 


Feb. 


- 


- 


2-15 


245 


245 


119 


54 


60 


370 


12.9 


18.4 


Mar. 


- 


- 


77 


77 


77 


203 


80 


245 


445 


15.5 


18.3 


Apr. 


- 


- 


90 


90 


90 


158 


177 


233 


304 


10.6 


17.4 


May* 


- 








— 


404 


4,671 


4,721 


454 


15.9 


16.6 



* In continuation of table on pages 42 and 43 of the March 1939 Summary. (1) Exports direct from mines, including all exports of ores, concentrates, dust, etc. (2) Changes 
in gold held under earmark at the Bank of Canada plus estimated changes in other foreign-owned gold held in Canada. (3) Valued monthly at market price in Canadian 
dollars, except in the case of earmarkings which are valued at $35 per fine ounce. (4) Monetary exports or imports are those which decrease or increase Canadian 
monetary gold stocks, i.e. stocks of the Bank of Canada; all other items are classed as non-monetary. (5) A domestic gold purchase for Canadian monetary stock has been 
treated as the equivalent of (a) an export of non-monetary gold, and (b) an import of monetary gold. (6) Value of net exports of non-monetary gold expressed as a 
percentage of the value of total merchandise exports, including non-monetary gold. X Preliminary. 



UNE 1939 



102 



2000 




XII— U.K. STATISTICS 



2400 



— 1000 130 




ULY 1939 



103 



BANK OF CANADA 

SOURCES AND DISTRIBUTION OF CASH 

MONTHLY AVERAGE OF WEDNESDAY FIGURES 



Millions of Dollars 

450 




DJ FMAMJJ ASONDJ TMAMJJASONDJ FMA 

1937 1938 1939 



104 



Millions of Dollars 



JULY 193< 

i— 4i 





LIABILITIES 




Chartered Bank Cash 




















Govt. 
Deposits 


Other 
Deposits 


Active 

B. of C. 

Note 

Circulation 


All 

Other 

Accounts 


Ti 
As 

Liab 




Notes 
in Tills 


Deposits 

at 
B. of C. 


Total 


Average of 


















Wednesday Figures 


















1935- 9 Mths. 


37.2 


176.5 


213.7 


23.9 


.7 


48.9 


6.8 


29 


1936-12 Mths. 


40.4 


184.7 


225.1 


22.5 


1.0 


64.0 


9.4 


32 


1937-12 Mths. 


49.8 


191.4 


241.2 


25.8 


1.2 


90.6 


13.5 


37 


1938-12 Mths. 


56.0 


199.6 


255.6 


22.8 


2.1 


105.9 


12.5 


39 


1938— June 


53.0 


190.8 


243.8 


42.4 


2.1 


101.4 


15.1 


40 


July 


55.1 


192.6 


247.7 


16.0 


2.0 


101.3 


13.7 


38 


Aug. 


55.4 


199.8 


255.2 


13.3 


1.6 


104.3 


12.9 


38 


Sept. 


60.2 


205.5 


265.7 


21.4 


1.0 


111.5 


9.3 


40 


Oct. 


62.0 


216.2 


278.2 


28.6 


1.4 


118.4 


9.5 


43 


Nov. 


58.3 


219.9 


278.2 


26.6 


1.5 


116.4 


10.5 


43 


Dec. 


59.6 


204.6 


264.2 


28.4 


2.3 


115.6 


10.1 


42 


1939— Jan. 


61.1 


210.4 


271.5 


23.6 


3.3 


107.5 


10.1 


41 


Feb. 


53.4 


207.0 


260.4 


31.8 


3.1 


106.0 


10.4 


41 


Mar. 


52.1 


205.3 


257.4 


19.3 


4.3 


107.2 


9.1 


39 


Apr. 


56.1 


203.7 


259.8 


20.4 


8.0 


109.4 


9.0 


40 


May 


55.4 


206.3 


261.7 


27.1 


8.0 


110.8 


9.8 


41 


June 


57.3 


203.8 


261.1 


30. 8 


5.0 


108.2 


9.3 


41 


Wednesdays 


















July 5 


53.8 t2) 


204.8 


258.6 (2) 


24.8 


5.0 


114.8 <2) 


8.9 


41 


12 


55.9"' 


201.1 


257.0 (2) 


22.5 


5.1 


113.0 <2) 


8.9 


40 


19 


56.6 (2) 


202.5 


259.1 (2) 


24.8 


5.6 


112.6 (2) 


9.7 


41 


26 


56.5 (2) 


206.1 


262.6 2 ' 


27.8 


4.7 


112.4 (2 > 


8.7 


41 



(1) Includes "Other Securities". 



CHARTERED BANKS: RATIO OF CASH IN CANADA TO CANADIAN DEPOSITS'. 1927-39 




1927 '28 '29 '30 '31 '32 '33 '34 '35 '36 '37 '38 '39 '40 



105 



JAN 


ADA 
















Millions of Dollars 


ASSETS 




Reserve 


Securities 


Advances 


All 

Other 

Accounts 




d 


Silver 
1.4 


Foreign 
Currencies 


Total 
Reserve 


Reserve 
Ratio 


Dom.-Prov. 
Short 


Dom.-Prov. 
Long 


Total*" 




,6 


10.3 


166.2 


57.87 


25.6 


94.0 


119.6 


4.1 


4.0 


Average of 
Wednesday Figures 

1935- 9 Mths. 


.7 


1.8 


11.4 


192.9 


61.69 


37.0 


86.3 


123.2 


1.7 


4.2 


1936-12 Mths. 


.0 


2.5 


20.4 


204.8 


57.11 


57.9 


98.4 


162.2 


- 


5.1 


1937-12 Mths. 


.0 


.9 


28.7 


210.6 


54.50 


122.5 


53.0 


181.2 


.9 


6.3 


1938-12 Mths. 


.9 


_ 


37.7 


219.6 


56.34 


113.3 


51.9 


171.3 


- 


14.0 


June— 1938 


.8 


- 


26.5 


207.3 


56.48 


114.5 


52.5 


167.8 


- 


5.6 


July 


.5 


- 


26.0 


206.5 


55.17 


121.3 


52.5 


173.8 


- 


6.9 


Aug. 


.5 


- 


32.9 


214.4 


53.65 


139.8 


48.9 


188.7 


- 


5.8 


Sept. 


.4 


- 


36.2 


217.6 


51.02 


161.9 


46.1 


208.0 


4.8 


5.6 


Oct. 


.2 


- 


39.8 


220.9 


52.27 


162.2 


42.5 


204.7 


2.0 


5.6 


Nov. 


.4 


- 


40.9 


223.3 


54.40 


151.0 


40.5 


191.4 


- 


5.9 


Dec. 


.4 


_ 


31.1 


219.5 


54.09 


140.1 


41.6 


181.7 


- 


14.7 


Jan.— 1939 


.6 


- 


42.1 


236.8 


59.01 


128.8 


39.1 


167.9 


- 


7.0 


Feb. 


.6 


- 


32.3 


233.9 


60.26 


129.8 


28.6 


158.4 


- 


5.0 


Mar. 


.6 


- 


33.2 


238.9 


60.09 


133.7 


28.5 


162.3 


- 


5.4 


Apr. 


.9 


- 


35.6 


241.5 


59.23 


122.8 


43.7 


166.5 


- 


9.5 


May 


.6 


- 


41.4 


247.0 


60.97 


110.4 


52.0 


162.5 


- 


4.9 


June 


.7 


_ 


33.7 


239.4 


59.38 


110.8 


51.5 


162.3 


_ 


10.3 


Wednesdays 

July 5 


.6 


- 


34.2 


239.8 


60.30 


110.8 


51.1 


161.9 


- 


4.8 


12 


.4 


- 


37.6 


243.0 


60.43 


112.6 


51.3 


163.9 


- 


4.8 


19 


.3 


- 


42.2 


247.5 


60.72 


112.5 


51.3 


163.8 


- 


5.0 


26 




JFMAMJJASONDJ rMAMJJASONDJTM 

1936 1937 

'Last Wednesday plotted is July 19, 



JJASONOJ F 
1938 



J J A S O N D 
1939 



106 





























JULY 1939 














II— CHI 


Millions of Dollars 










J 


V 




LIABILITIES 








Notes 


Deposits 


Cash 

in 
Canada 13 ' 


Securities 






Demand 


Time 


Dom. 
and Prov. 


Canadian 
Deposits"' 


Foreign 


Total 
Deposits" > 


DOM.-PROV. 


- 


h 




Short 


Long 


Average of 
Month-end Figures 

1926 
1929 
1932 
1933 


169 
178 
132 
130 


553 
696 
486 
489 


1,341 
1,480 
1,376 
1,379 


53 

102 
82 
62 


1,958 

2,293 
1,955 

1,941 


330 

418 
312 
308 


2,333 
2,837 
2,322 
2,290 


197 
212 
186 
195 


344 
342 
490 
627 


) 

) 


1934 
1935 
1936 
1937 
1938 


136 
126 
119 
110 
100 


514 
569 
618 
691 

690 


1,373 
1,445 
1,518 
1,574 
1,630 


66 
65 

77 
90 
94 


1,966 
2,104 
2,245 
2,382 
2,449 


322 
348 

401 
421 
408 


2,317 
2,476 
2,668 
2,840 
2,892 


203 
216 
225 
240 
252 


684 
407 454 
447 628 
445 674 
447 696 




> 
) 


End of 

1938— June 
July 
Aug. 
Sept. 
Oct. 
Nov. 
Dec. 


104 

101 

99 

104 

101 

97 

95 


690 
671 
687 
725 
749 
750 
734 


1,621 
1,623 
1,635 
1,633 
1,656 
1,655 
1,660 


148 
101 
96 
89 
75 
94 
106 


2,484 
2,445 
2,460 
2,492 
2,518 
2,506 
2,498 


410 
397 
400 
425 
419 
436 
420 


2,939 
2,862 
2,878 
2,937 
2,961 
3,004 
2,986 


242 
235 
257 
264 
286 
271 
257 


437 
422 
435 
445 
451 
448 
469 


719 
717 
710 
684 
669 
693 
693 






1939— Jan. 
Feb. 
Mar. 
Apr. 
May 
June 


90 
94 
97 
95 
90 
97 


700 
690 
705 
716 

684 
702 


1,667 
1,691 
1,700 
1,697 
1,678 
1,680 


90 
89 
86 
97 
162 
159 


2,501 
2,514 
2,538 
2,551 
2,567 
2,591 


430 
432 

452 
468 
484 
504 


2,954 
2,974 
3,021 
3,050 
3,080 
3,126 


269 
261 
253 
255 
260 
249 


464 
481 
528 
511 
444 
455 


697 

711 
671 
692 
754 

758 




1 

) 
) 


(1) Estimated month-end 
(3) Until March 1935; G 


deposits payable in Car 
old and Coin in Canada 


adian currency 
Dominion Not 


(2) Includes inter-bank < 
:s and "Free" Central Gold Re 


eposits. 

erve Deposits; after that date: Bank of Canada Notes and Deposit 




CHARTER 


ED BANKS'- CI 


JRRENT L 


.OANS TO THE PU 


BLIC IN CANADA: 1937- 


■39 




MILL 


IONS Or DOLLARS 








MILLIONS 


or DOLL/ 


RS 




900 








MC 


NTM-END FIGURES 






c 


100 






















i 


(50 . 




OjU 
















^••o. 






800 












1931 


1 v 


i 


100 
50 




1939 ' 


.,"" 


,, • 


/'■ 




7^ 




\, 










750 


-S5 




\...- 


./' 








\ J937 












^ 






700 






^ 












1 


00 










































zz 






o : 


: 


| 




J_ _L 










( 


) 




JAN FEB. 


MAR. 


APR. 


MAY 


JUNE 


JL 


LY AUG 


SEPT 




OCT 


NOV 


DEC. 







JULY 1939 



107 



BANKS 



Millions of Dollars 



ASSETS 




DAILY AVERAGE DATA 






Loans 




Cash 




Ratio of 


Total 






CANADA 


ABROAD 


Total 
Assets 




in 
Canada" > 


Canadian 
Deposits' 4 ' 


Deposits in 
Canada 


Note 
Circulation' 5 ' 




>tal 


Call 


Current 
Public 


Current 
Other 


Call 


Current 



























Average ot 


























Daily Figures 


533 


140 


934 


87 


250 


261 


2,864 




192 


1,958 


9.8 


195 


1926 


199 


267 


1 ,343 


112 


301 


248 


3,528 




191 


2,293 


8.3 


205 


1929 


S96 


117 


1,032 


165 


84 


172 


2,869 




172 


1,955 


8.8 


158 


1932 


J41 


102 


907 


147 


92 


148 


2,831 




189 


1,941 


9.8 


157 


1933 


H>7 


1C2 


869 


145 


107 


138 


2,838 




201 


1,966 


10.2 


163 


1934 


)44 


82 


829 


134 


72 


146 


2,957 




213 


2,108 


10.1 


169 


1935 


131 


93 


699 


121 


64 


150 


3,145 




225 


2,213 


10.2 


182 


1936 


126 


107 


732 


117 


68 


165 


3,317 




240 


2,357 


10.2 


200 


1937 


140 


67 


786 


129 


51 


158 


3,349 




254 


2,412 


10.5 


205 


1938 


[62 


69 


786 


135 


53 


181 


3,399 




243 


2,421 


10.0 


200 


June— 1938 


36 


71 


786 


134 


53 


152 


3,322 




245 


2,444 


10.0 


201 


July 


40 


71 


781 


132 


55 


144 


3,334 




254 


2,426 


10.5 


201 


Aug. 


21 


60 


829 


136 


45 


143 


3,400 




263 


2,442 


10.8 


214 


Sept. 


09 


66 


848 


137 


52 


142 


3,424 




277 


2,474 


11.2 


220 


Oct. 


26 


64 


837 


133 


48 


148 


3,455 




279 


2,487 


11.2 


214 


Nov. 


63 


65 


806 


134 


51 


152 


3,431 




261 


2,473 


10.6 


216 


Dec. 


54 


63 


792 


127 


56 


148 


3,396 




269 


2,473 


10.9 


195 


Jan.— 1939 


90 


60 


787 


133 


54 


145 


3,421 




260 


2,466 


10.6 


197 


Feb. 


99 


56 


801 


142 


49 


- 144 


3,471 




257 


2,485 


10.3 


201 


Mar. 


09 


54 


814 


142 


44 


143 


3,496 




258 


2,520 


10.2 


204 


Apr. 


04 


55 


822 


142 


50 


141 


3,521 




261 


2,531 


10.3 


202 


May 


25 


52 


822 


135 


42 


144 


3,575 




259 


2,537 


10.2 


202 


June 



gures given are annual averages of estimated month-end Canadian deposits in 1926-35 and monthly average Canadian deposits in 1936 and after. 
■artered Bank note circulation and Bank of Canada notes in public circulation. 



GOVERNMENT SECURITIES 
NET NEW ISSUES AND CHANGES IN CHARTERED BANK PORTFOLIOS: 1936-39 

kRS CUMULATIVE rROM JANI.I93S *"' 




D J F M A M J 



S O N D J F 



For statistics of New Issues and Retirements s 



, M J J ASONDJFMAMJJASO 

1937 1938 

page 1 10 of this issue. * Based on delivery date as distinct from d 



DJFMAMJJASOND 
1939 



108 



JULY 1939 



III 



SECURITY PRICES 

Bank of Canada 





Dominion of Canada Bonds Payable in Canada Only 

Middle Prices and Yields 


Average of 
Working Days 


3M% due 
1956 


June 1, 
-66 


3% due 
1950 


June 1, 

-55 


l\i% due June 1, 
1946-49 


5% due Oct. 15, 
1943 


2% due June 1, 
1942 




Price 


Yield 


Price 


• Yield 


Price 


Yield 


Price 


Yield 


Price 


Yield 


1938 


100.41 


3.22 


99.01 


3.08 


102.73 


2.86 


113.51 


2.27 


101.38 


1.63 


1938— June 
July 
Aug. 
Sept. 


101.02 

100.93 

100.63 

99.02 


3.18 
3.18 
3.20 
3.30 


99.51 
99.20 
99.21 
97.96 


3.04 
3.06 
3.06 
3.16 


103.41 
103.05 
102.94 
101.59 


2.77 
2.82 
2.83 
3.02 


114.76 

113.73 
113.46 
112.34 


2.06 
2.22 
2.23 
2.41 


102.10 
101.93 
101.53 
100.83 


1.45 
1.49 
1.58 
1.77 


Oct. 
Nov. 
Dec. 


100.24 
101.39 
101.94 


3.23 
3.15 
3.10 


98.89 
99.75 
99.80 


3.09 
3.02 
3.02 


102.30 
103.25 
103.44 


2.91 
2.77 
2.74 


112.62 
113.66 
113.48 


2.31 
2.06 
2.06 


101.14 
101.94 
101.90 


1.68 
1.44 
1.44 


1939— Tan. 
Feb. 
Mar. 
Apr. 


101.99 
102.44 
102.46 
101.53 


3.10 
3.07 
3.07 
3.13 


99.72 

99.94 

100.48 

100.08 


3.02 
3.01 
2.95 
2.99 


103.70 
103.85 
104.02 
103.10 


2.69 
2.67 
2.63 
2.77 


112.97 
112.85 
112.80 
112.00 


2.12 
2.09 
2.06 
2.19 


101.67 
101.49 
101.61 
101.22 


1.49 
1.53 
1.48 
1.61 


May 
June 

July"' 


101.33 

102.24 
102.12 


3.15 
3.08 
3.09 


99.47 
100.40 
100.36 


3.04 
2.96 
2.96 


102.88 
104.38 
104.51 


2.80 
2.56 
2.53 


111.62 
111.94 
111.93 


2.22 
2.10 
2.06 


101.07 
101.23 
101.25 


1.64 
1.57 
1.55 



(1) Average July 1-25. 



YIELDS OF DOMINION GOVERNMENT BONDS : 1938 - 39 

PAYABLE IN CANADA ONLY 




AUG. SEPT OCT- NOV DEC. JAN TEB. 

1 938 

'Average rate of successful tenders for new offerings. (1) July 14. (2) July 25. 



JUNE JULY AUG SEPT. 



JULY 1939 



109 



III— SECURITY PRICES 

Bank of Canada 






Average of 


Government Bonds 

Middle Prices and Yields 


Treasury Bills 

Three Months 

Average Yield of Successful 

Tender s w 


Working Days 


Canada* <u 


U. K.* < 2 > 


U.S.A.* < 3 > 


Canada 


U.K. 


U.S.A. 




Price 


Yield 


Price 


Yield 


Price 


Yield 


1938 


99.71 


3.15 


100.79 


3.41 


103.51 


2.61 


.590 


.614 


.055 


1938— June 
July 
Aug. 
Sept. 


100.27 

100.07 

99.92 

98.49 


3.11 
3.12 
3.13 
3.23 


101.70 

102.50 

101.99 

98.26 


3.35 
3.28 
3.32 
3.56 


103.94 
103.99 
104.19 
103.26 


2.58 
2.58 
2.56 
2.63 


.465 
.489 
.519 
.608 


.574 
.522 
.506 

.945 


.016 
.054 
.047 
.106 


Oct. 
Nov. 
Dec. 


99.57 
100.57 
100.87 


3.16 
3.09 
3.06 


99.44 
99.42 
97.99 


3.52 
3.52 
3.57 


104.44 
104.17 
104.36 


2.54 
2.56 
2.55 


.747 
.693 
.672 


.773 

.526 

1.003 


.018 
.027 
.013 


1939— Jan. 
Feb. 
Mar. 
Apr. 


100.86 
101.19 
101.47 
100.81 


3.06 
3.04 
3.01 
3.06 


96.97 
96.80 
96.07 
92.80 


3.61 
3.62 
3.64 

3.77 


104.74 
105.15 
106.47 
107.15 


2.52 
2.48 
2.39 
2.34 


.690 
.681 
.665 
.636 


.534 

.503 

.506 

1.560 


Nil 
.005 
Nil 
.025 


May 
June 
July (s ' 


100.40 
101.32 
101.24 


3.10 
3.02 
3.02 


93.31 
94.30 
92.76 


3.75 
3.71 
3.77 


108.70 
109.52 
109.38 


2.22 
2.16 
2.17 


.631 
.614 
.584 


.669 
.833 

.787 


.009 
.004 
.012 



* Differing coupon rates and maturity provisions, and the fact that the U. S. Treasury issue is exempt from "normal" income tax, vitiate any direct 
comparison of absolute yield levels. 

(1) Average of Dominion of Canada 3% due June 1, 1950-55 and 3M% due June 1, 1956-66. 

(2) United Kingdom i)4% "War Loan" due Dec. 1, 1952 and after; price excluding accrued interest. 

(3) U. S. Treasury 2H% due Mar. 15, 1955-60. 

(4) On for nearest to) 15th of each month. (5) Average July 1 - 25 for Bond Prices and Yields. 



LONG TERM DOMESTIC GOVERNMENT BOND YIELDS : CANADA, U.K. & U.S.A. : 1938-39 




225% 



250% 



3 50% 



375% 



AUG. SEPT. 



*See note above. (1) July 25. 



110 



JULY 1939 



IV 



Par Values in Millions of Dollars 



BOND ISSUES AND RETIREMENTS' 

Bank of Canada 





I Dominion' 2 ' Direct & Guaranteed and Other C.N.R. ' 




II Provincial' 2 'Direct & Guaranteed' 3 ' 




Sales 


Deliveries 


(4) 

Retirements 


Net De- 
liveries 
orfter/re- 


Sales 


Deliveries 


Retirements 


Net De- 
liveries 




New 


Refunding 


New 


Refunding 


Refunded 


Other 


New 


Refunding 


New 


Refunding 


Refunded 


Other 


or Retire- 


First Half 






























1936 


102.6 


200.1 


102.6 


200.1 


200.1 


5.7 


96.9 




32.9 


5.3 


32.9 


5.3 


5.3 


43.0 


10.0 


1937 


35.5 


198.5 


35.5 


198.5 


198.5 


11.3 


24.2 




39.3 


42.1 


17.0 


38.5 


79.3 


9.5 


33.3 


1938 


100.0 


138.5 


100.0 


89.8 


89.8 


27.2 


72.8 




21.2 


14.0 


21.2 


12.6 


13.5 


24.6 


4.3 


1939 


94.1 


110.4 


94.1 


110.4 


110.4 


15.0 


79.0 




59.3 


35.0 


50.0 


35.0 


25.6 


17.9 


41.4 


Quarters 
































1939 










* 




* 


















I 


44.1 


25.9 


44.1 


25.9 


15.9 


1.1 


43.0 




35.2 


1.0 


35.2 


1.0 


1.0 


8.1 


27.0 


II 


50.0 


84.5 


50.0 


84.5 


84.5 


14.0 


36.0 




24.1 


34.0 


14.8 


34.0 


24.6 


9.8 


14.4 



First Half 

1936 

1937 
1938 
1939 

Quarters 

1939 
I 
II 



III Corporations 



76.1 
47.8 
18.6 
12.0 



1.7 
10.4 



Refunding New Refunding 



111.9 

41.6 

14.1 

163.9 



60.0 
103.9 



75.5 

48.9 

17.9 

8.3 



2.5 

5.8 



107.5 
43.4 
13.8 

151.1 



38.1 
113.0 



Retirements 1 ' 



Refunded Oth, 



59.4 

53.5 

.8 

107.4 



17.3 
90.1 



30.5 
30.9 
18.3 
35.2 



14.8 
20.4 



Net De- 
liveries 
or Re tire 



93.0 

7.9 

12.6 

16.8 



8.5 
8.3 



I+II+III 



Net Deliveries 

or 
Retirements 



179.8 

1.2 

81.1 

137.2 



78.5 
58.7 



iv-dominion 
Treasury Bills <; 



Net De- 
liveries o 
Retire- 
ments 



27.3 

15.0 
10.0 



120 
135 
160 
155 



At end of 
quarter 

155 
155 



Municipalities 
and Religious 
Institutions 



18.8 

17.2 
13.5 
14.9 



1.3 
13.6 



Refunding 



18.1 

31.2 

4.8 

9.2 



4.5 

4.7 



Par Values in Millions of Dollars 



SUMMARY OF CHANGES IN CURRENCY OF PAYMENT" 

DOMINION' 2 ' AND PROVINCIAL' 2 ' DIRECT AND GUARANTEED, OTHER C.N.R. 
AND CORPORATION BONDS' 8 ' 





DELIVERIES were payable in: 




Retirements^ 


' were payable in: 




Net Increase or 
Net Decrease 




Canada 
only 


New York 
only 


Canada & 
New York 


(9) 

London 


Total 


Canada 


New York 
only 


New York 


Canada, 
New York 
& London 


(9) 

London 


Total 


inft Payable: 




in Canada 
only 


Abroadt 


First Half 

1936 


393.5 


126.0 


3.0 


1.4 


523.9 


169.0 


90.9 


23.3 


54.1 


6.8 


344.1 


224.5 


44.7 


1937 


281.3 


93.8 


.5 


6.3 


381.9 


191.5 


12.9 


114.9 


46.4 


17.3 


383.1 


89.7 


90.9 


1938 


252.5 


.3 


.1 


2.4 


255.3 


147.4 


6.5 


6.0 


3.7 


10.7 


174.2 


105.2 


24.1 


1939 


360.6 


so.o 


8.3 


.1 


448.9 


148.9 


10.4 


81.1 


47.3 


23.9 


311.7 


211.6 


74.4 


Quarters 

1939 

I 


126.5 


20.2 




.1 


146.8 


13.9 


* 
4.6 


3.0 


31.6 


15.2 


* 
68.3 


112.6 


* 
34.1 


II 


234.0 


59.8 


8.3 


- 


302.1 


135.0 


5.8 


78.1 


15.6 


8.7 


243.4 


99.0 


40.3 



(1) Subject to revision. (2) Treasury Bills are excluded. For particulars of Dominion Treasury Bills see Heading IV. (3) C.N.R. bonds guaranteed by provinces are 
treated under the heading "Other C.N.R." (4) Includes retirements through sinking fund purchases. In many cases available data did not permit more than arbitrary 
approximations for separate portions of the fiscal year. (5) Three months Bills, payable in Canada only. (6) It was impossible to classify issues of municipalities and 



religious institutions totalling S4.1 mm. in 1936, $2.5 mm. in 1937, $4.8 mm. 
such issues have been arbitrarily allocated in the same proportions as the km 
municipalities and religious institutions was possible. (7) includes S48 mm. 
in tin- first quarter and $36 mm. in the second quarter of 1936. (8) Issues ■■! 
ufficient information. (9) Including issues payable optionally in ( anada o 
refunded in New York in November, 1938 is for the purposes of this table t.i 



19.18 and $2.7 mm. 



he first half of 1939 between new and refunding. In eacli quartet 
Because of lack of sufficient data no tabulation of retirements by 
refund 1),. minion guaranteed bank loans. $12 mm. was delivered 
i- institutions are not included in this tabulation owing to lack of 
i. Dominion issue due in New York on 1st Jan., 1939, which was 
t quarter of 1938. t Only or optionally. 



JULY 1939 



111 



V— PUBLIC FINANCE 



DOMINION AND PROVINCIAL DIRECT AND GUARANTEED AND OTHER C.N.R. BONDS' 



Millions of Dollars 


GROSS AMOUNT OUTSTANDING AS AT 30th JUNE, 1939 (2) 

Bank of Canada 




Payable in: 


Canada 
only 


New York 
only 


Canada 

or 

New York 


Canada. 
New York 
or London 


London' 3 ' 


Total 




2,369. 6 (5) 
1.3 

324.7 

21.8 

6.5 
56.5 

1.5 

52.8 

.9 

236.1 

3.1 

333.0 

109.8 

30.1 

3.1 

60.1 

.2 

29.8 

29.1 
2.5 


469.0 
24.2 
13.8 

.5 

8.6 
.4 


.7 
65.0 

12.7 

40.6 
33.5 

39.0 

49.7 

7.0 

39.5 

.4 

48.2 

.1 

59.0 

6.5 
67.7 

1.8 


28.6 

351.4 

6.5 

43.7 

15.0 

1.8 

232.1 

8.5 

3.5 

4.7 

19.9 

4.0 
1.2 


406.2 

289.5 
34.6 
71.6 

5.7 

7.2 

.2 

10.5 

5.9 

19.3 

10.9 

19.3 

44.6 
2.4 


3,244.8 5 ' 
30.6 

1,054.9 

41.1 

163.5 

6.5 

102.7 

1.5 

94.0 

1.1 

300.6 

4.9 

620.7 

133.9 

92.8 

3.5 

123.8 

.3 

128.0 

6.5 
145.5 

7.9 


— Gtd. other than C.N.R. . . 
C.N.R. —Gtd. by Dom 


— Gtd. by Provs 








—Gtd 


— Gtd. <6) ... 




—Gtd 


—Gtd 


— Gtd. <6) 




—Gtd 


— Gtd. (6) 




— Gtd. C6) 




Total 


3,672.2 


516.6 


471.4 


721.0 


927.9 


6,309.1 



Contra Sinking Fund 

Investments:* 4 ' 

book value as at latest 

available date 


70.0 


Mar 


31st, 


1939 


.6 


Dec. 


31st, 


1938 


1.6 
7.0 


Dec. 
Nov 


31st, 
30th, 


1938 
1938 


9.8 
.1 


Oct. 
Oct. 


31st, 
31st, 


1938 
1938 


27.3 


Jan. 


31st, 


1939 


10.9 

6.0 

12.2 


Apr. 
Jan. 


14th, 
various 

31st, 


1939 
1939 


13.7 

.2 

12.4 

1.6 
35.5 

1.9 


Dec. 31st, 
Apr. 30th, 
Dec. 31st, 

various 
Mar. 31st, 

various 


1938 
1938 
1938 

1939 







(1) Treasury Bills are excluded. (2) Figures for the gross amount of bonds outstanding are compiled from latest official sources adjusted to 30th June, 1939, by sub- 
sequent known issues and redemptions: when full details regarding these become available minor revisions may be necessary. (3) Including issues payable in Canada 
or London, one issue payable in London or New York, and one issue payable in London or Paris. (4) Figures for guaranteed issues are approximate in some cases for 
which full particulars are not available. (5) The $ii.i mm. of School Land Debenture Stock issued by the Dominion and held by Provinces is excluded. (6) C.N.R. 
issues guaranteed by the provinces, being included under the C.N.R. heading, are excluded from provincial headings. 



Cents per unit 



VI— FOREIGN EXCHANGE RATES 

Federal Reserve Bulletin and Bank of Canada^ 



Average of 


Sterling in 
Canada 


U.S. Dollar 
in Canada 


Can. Dollar 
in New York 


Sterling in 
New York 


French Franc 
in New York 


Working Days 




Percentage 
Premium or 
Discount (2) 




Percentage 
Premium or 
Discount (2) 




Percentage 
Premium or 
Discount (2) 




Percentage 
Premium or 
Discount m 




Percentage 
Premium or 
Discount (2) 


1928 
1932 


487.06 
398.02 


+ .08 
-18.21 


100.09 
113.52 


+ .09 
+13.52 


99.91 
88.09 


- .09 
-11.91 


486.62 
350.61 


- .01 
-27.96 


3.921 
3.928 


+ .08 
+ .26 


1935 
1936 
1937 
1938 


492.68 
497.45 
494.37 
491.62 


+ 1.24 
+ 2.22 
+ 1.59 
+ 1.02 


100.51 

100.06 

99.99 

100.56 


+ .51 
+ .06 
- .01 
+ .56 


99.49 

99.91 

100.00 

99.42 


- .51 

- .09 

- .58 


490.18 
497.09 
494.40 
488.94 


+ .72 
+ 2.14 
+ 1.59 
+ .47 


6.601 
6.114 
4.046 
2.878 


+68.48 
+56.05 
+ 3.27 
- 6.54 


1938— Mar. 
Apr. 
May 
June 
July 


499.84 
500.61 
500.81 
501.16 
495.62 


+ 2.71 
+ 2.87 
+ 2.91 
+ 2.9c? 

+ 1.84 


100.28 
100.54 
100.82 
101.07 
100.54 


+ .28 
+ .54 
+ .82 
+ 1.07 
+ .54 


99.72 
99.45 
99.18 
98.91 
99.44 


- .28 

- .55 

- .82 

- 1.09 

- .56 


498.45 
499.12 
496.73 
495.80 
492.91 


+ 2.42 
+ 2.56 
+ 2.07 
+ 1.88 
+ 1.29 


3.122 
3.102 
2.815 
2.782 
2.766 


-20.30 

-20.82 
-28.16 
-28.98 
-29.39 


1939— Mar. 
Apr. 
May 
June 
July"' 


470.44 
470.38 
469.81 
469.23 
469.01 


- 3.33 

- 3.34 

- 3.46 

- 3.58 

- 3.63 


100.41 
100.50 
100.36 
100.21 
100.18 


+ .41 
+ .50 
+ .36 
+ .21 
+ .18 


99.58 
99.48 
99.62 
99.77 
99.79 


- .42 

- .52 

- .38 

- .23 

- .21 


468.54 
468.05 
468.13 
468.24 
468.16 


- 3.72 

- 3.82 

- 3.81 

- 3.78 

- 3.80 


2.649 
2.648 
2.649 
2.649 
2.649 


-32.39 
-32.42 
-32.39 
-32.38 
-32.38 



(1) Except for Sterling and the U. S. Dollar in Canada in 1936 and after, which are noon middle rates, all quotations are based on noon buying rates in New York. 

(2) Based on pre-1931 pars of $4.86656, $1.00 and 3.9179 c. respectively. (3) July 1 - 25. 



112 



JULY 1939 



VII— INDUSTRIAL ACTIVITY 

Dominion Bureau of Statistics 





Physical 
Volume of 


PRODUCTION 


Con- 




Employ- 




Business 
Index 


Gold 


Copper 


Steel 


Auto- 
mobiles 


News- 


Central 
Electric 


Contracts 


c 

Car 

Loadings 


ment 
Index'" 




Seasonally 
adjusted 








& Trucks 




Stations 






Seasonally 
adjusted 




Thousands 


Thousands 


Thousands 




Thousands 


Millions 








1926 = 100 


Fine Ounces 


Short Tons 


Long Tons 




Short Tons 


Kilowatt Hrs. 


of Dollars 


Thousands 


1926 = 100 


Annual TotalsWi 






















1926 


100.0 


1,754 


67.0 


776 


205.0 


1,889 


11,926 


372.9 


3,253 


100.0 


1929 


125.5 


1,928 


124.1 


1,378 


262.6 


2,725 


17,633 


576.7 


3,524 


119.2 


1932 


78.7 


3,044 


123.8 


339 


60.8 


1,919 


15,863 


132.9 


2,176 


86.4 


1933 


79.7 


2,949 


150.0 


410 


65.9 


2,022 


17,553 


97.3 


2,032 


84.2 


1934 


94.2 


2,972 


182.4 


758 


116.9 


2,605 


21,160 


125.8 


2,321 


96.4 


1935 


102.4 


3,285 


209.5 


942 


172.9 


2,765 


23,404 


160.3 


2,358 


99.8 


1936 


112.2 


3,748 


210.5 


1,116 


162.2 


3,225 


25,934 


162.6 


2,494 


104.0 


1937 


122.7 


4,096 


265.0 


1,403 


207.5 


3,674 


27,584 


224.1 


2,635 


114.1 


1938 


112.9 


4,716 


293.7 


1,156 


166.1 


2,625 


25,994 


187.3 


2,429 


111.4 


Monthly Totals 






















1938-Feb. 


106.7 


340.8 


23.4 


99.0 


16.1 


202.6 


2,058 


6.6 


179.7 


112.3 


Mar. 


108.8 


376.0 


24.0 


118.7 


16.8 


224.6 


2,258 


10.4 


199.5 


111.2 


Apr. 


112.4 


368.4 


23.9 


116.4 


18.8 


200.8 


2,064 


15.0 


184.7 


111.5 


May 


110.7 


381.1 


24.2 


114.9 


18.1 


207.7 


2,082 


18.6 


190.2 


111.9 


June 


108.4 


390.7 


24.2 


109.4 


14.7 


201.7 


1 ,973 


20.9 


187.5 


111.3 


1939-Feb. 


117.0 


391.0 


20.6 


77.2 


14.3 


200.6 


2,214 


11.3 


159.7 


111.0 


Mar. 


113.2 


414.2 


26.0 


95.7 


17.5 


220.6 


2,367 


9.0 


191.0 


111.1 


Apr. 


118.6 


406.8 


24.9 


99.8 


16.9 


220.8 


2,197 


12.3 


179.0 


110.3 


May 


121.4 


432.4 


27.7 


121.4 


15.7 


250.0 


2,333 


18.4 


214.5 


113.1 


June 


121.4 






107.9 


14.5 


240.5 


2,245 


25.2 


194.5 


113.6 



(1) As at end of month. (2) Average of months in case of Physical Volume of Business and Employment Indexes. 



EMPLOYMENT INDEX: 1936-39 
PERCENTAGE INCREASE (+) OR DECREASE (-) FROM SAME MONTH OF PREVIOUS YEAR 

2.0/i MQNTH-CND FIGURES 20/6 



10% 



If 



^ i: Fi 



1 1 1 B 



10% 




10% 



10% 



A M J J 



J A S O 



JULY 1939 



113 



VIII 



CANADA 

Dominion Bureau of Statistics 



WHOLESALE PRICE INDEXES 

1926 = 100 

U.K. 

Board oj Trade™ 



U.S.A. 

Bureau of Labour 




















Products 


Materials 


Foods 


factures 




Average of Mths. 












1926 


100.0 


100.0 


100.0 


100.0 


100.0 


1929 


100.8 


97.5 


100.0 


93.0 


95.6 


1932 


48.4 


55.0 


61.5 


69.8 


66.7 


1933 


51.0 


56.6 


63.8 


70.2 


67.1 


1934 


59.0 


63.5 


69.7 


73.4 


71.6 


1935 


63.5 


66.0 


70.4 


72.8 


72.1 


1936 


69.4 


70.8 


73.4 


73.6 


74.6 


1937 


87.0 


84.2 


81.2 


80.4 


84.5 


1938 


73.6 


72.7 


77.1 


78.2 


78.6 


Monthly 












1938-June 


76.6 


75.4 


78.1 


79.2 


80.1 


July 


71.5 


72.5 


79.0 


78.4 


78.6 


Aug. 


64.2 


67.5 


75.8 


77.0 


76.0 


Sept. 


63.8 


65.6 


74.3 


75.6 


74.5 


Oct. 


63.8 


65.1 


73.0 


74.8 


74.1 


Nov. 


64.9 


64.6 


72.0 


74.0 


73.5 


Dec. 


64.6 


64.9 


75.0 


73.6 


73.3 


1939-Jan. 


64.8 


64.8 


71.7 


73.5 


73.3 


Feb. 


64.7 


64.9 


71.9 


73.6 


73.2 


Mar. 


65.1 


65.1 


72.2 


73.2 


73.2 


Apr. 


65.5 


65.5 


72.3 


73.3 


73.4 


Mav 


65.2 


66.5 


72.2 


73.2 


73.7 


June 


63.3 


65.0 


71.9 


73.1 


73.3 



Foods 


Total 


100.0 


100.0 


93.9 


92.1 


71.8 


69.1 


67.8 


69.2 


69.5 


71.1 


71.0 


71.8 


75.0 


76.2 


83.7 


87.8 


79.7 


81.9 


81.3 


81.3 


80.0 


81.2 


77.5 


80.3 


75.2 


79.4 


75.7 


80.0 


74.1 


79.4 


75.1 


79.3 


75.7 


78.4 


74.5 


78.1 


73.7 


78.0 


74. <S 


78.4 


75.2 


78.9 


75.2 


79.2 



Farm 
Products 


Raw 

Materials 


Foods 


Manu- 
factures 

(2) 


Total 


100.0 


100.0 


100.0 


100.0 


100.0 


104.9 


97.5 


99.9 


94.5 


95.3 


48.2 


55.1 


61.0 


70.3 


64.8 


51.4 


56.5 


60.5 


70.5 


65.9 


65.3 


68.6 


70.5 


78.2 


74.9 


78.8 


77.1 


83.7 


82.2 


80.0 


80.9 


79.9 


82.1 


82.0 


80.8 


86.4 


84.8 


85.5 


87.2 


86.3 


68.5 


72.0 


73.6 


82.2 


78.6 


68.7 


71.4 


73.1 


82.2 


78.3 


69.4 


72.3 


74.3 


82.5 


78.8 


67.3 


71.4 


73.0 


81.8 


78.1 


68.1 


72.0 


74.5 


81.8 


78.3 


66.8 


70.9 


73.5 


81.1 


77.6 


67.8 


71.5 


74.1 


SO. 5 


77.5 


67.6 


70.9 


73.1 


80.2 


77.0 


67.2 


70.9 


71.5 


80.0 


76.9 


67.2 


70.9 


71.5 


80.2 


76.9 


65.8 


70.1 


70.2 


80.2 


76.7 


63.7 


68.5 


68.6 


80.1 


76.2 


63.7 


68.9 


68.2 


79.9 


76.2 


62.4 


67.7 


67.6 


79.6 


75.6 



METAL EXPORT PRICES* : 1926-39 

CONVERTED INTO CANADIAN CURRENCY 



RATIO SCALE 



RATIO SCALE 




"Spot quotation in the principal Canadian export market during the month for the metal concerned. (1) Average July 1-25. 



114 



JULY 1939 



Thousands of Persons 



IX— DIRECT RELIEF RECIPIENTS:* 1938-39 

Department of Labour 





Urban 




Fully 
Employable 


All De- 
pendents 
of Fully 

Employ- 


Total 


Partially 
Employable 


All De- 
pendents 

OF 

Partially 
Employ- 


Total 


Unemployable 


All De- 
pendents 

OF 

Unemploy- 


















Total 




Individual 


Heads of 


able 




Individual 


Heads of 




Individual 


Heads of 


able 






Persons 


Families 


Family 
Heads 




Persons 


Families 


Family 
Heads 




Persons 


Families 


Family 
Heads 




Monthly 


(A) 


(B) 






















1938-Jan. 


23 


111 


374 


507 


12 


18 


50 


80 


8 


11 


26 


45 


Feb. 


23 


116 


389 


528 


12 


18 


51 


81 


8 


11 


27 


46 


Mar. 


22 


117 


392 


530 


11 


17 


50 


79 


7 


11 


26 


44 


Apr. 


22 


113 


379 


513 


10 


17 


48 


76 


7 


10 


26 


43 


May 


21 


102 


341 


464 


10 


16 


45 


71 


7 


10 


24 


41 


June 


19 


91 


305 


416 


10 


15 


42 


66 


7 


9 


23 


39 


July 


20 


86 


289 


396 


9 


14 


40 


63 


7 


9 


22 


38 


Aug. 


18 


82 


273 


372 


9 


14 


39 


61 


7 


9 


22 


37 


Sept.'" 


15 


76 


255 


346 


10 


12 


34 


57 


9 


10 


23 


42 


Oct. (,) 


19 


81 


271 


370 


10 


13 


36 


59 


9 


10 


25 


44 


Nov. < " 


24 


92 


307 


423 


11 


13 


39 


64 


10 


11 


27 


48 


Dec. 0) 


24 


106 


357 


487 


11 


15 


42 


68 


10 


12 


28 


50 


1939-Jan. ( " 


27 


119 


399 


545 


12 


16 


45 


72 


10 


12 


29 


51 


Feb. '" 


28 


125 


419 


572 


12 


16 


46 


74 


10 


12 


29 


52 


Mar. 


27 


127 


424 


578 


12 


16 


46 


75 


10 


12 


29 


52 


Apr. 


26 


123 


413 


562 


12 


16 


45 


73 


10 


12 


29 


51 



Thousands of Persons 





Urban 


Agricultural 






All 
Individual 
Persons 


All 
Heads of 
Families 


All Dependents of 
Heads 


Family 


Total 
Urban 


Of which 
Fully 

Employable 
(A + B + C) 


Farmers 


All De- 
pendents 
of Farm 
Family 
Heads 


Total 
Agri- 
cultural 


Total 
Urban 




Fully 
Employ- 
able 
Dependents 


Partially 
Employ- 
able 
Dependents 


Non- 
worker 
Type 
Dependents 


Individual 
Persons 


Heads of 

Families 


Agri- 
cultural 


Monthly 

1938-Jan. 


43 


139 


(C) 

35 


1 


414 


632 


169 


10 


76 


298 


383 


1,015 


Feb. 


43 


145 


36 


1 


429 


655 


175 


10 


77 


303 


389 


1,044 


Mar. 


40 


145 


36 


1 


431 


653 


175 


10 


77 


305 


392 


1,045 


Apr. 


39 


140 


35 


1 


418 


632 


170 


10 


77 


305 


392 


1,024 


May 


38 


127 


31 


1 


378 


576 


154 


10 


75 


296 


380 


956 


June 


36 


116 


28 


1 


341 


521 


138 


10 


72 


282 


364 


885 


July 


36 


110 


26 


1 


324 


497 


132 


9 


67 


263 


339 


837 


Aug. 


34 


104 


24 


1 


308 


471 


124 


8 


57 


222 


287 


758 


Sept. 


34 


98 


23 


1 


288 


445 


114 


3 


21 


86 


109 


554 


Oct. 


38 


104 


24 


1 


306 


473 


124 


4 


33 


131 


168 


641 


Nov. 


45 


117 


27 


1 


345 


535 


143 


6 


50 


196 


252 


787 


Dec. 


46 


132 


32 


1 


394 


605 


162 


7 


58 


227 


292 


896 


1939-Jan. 


49 


147 


36 


1 


436 


668 


182 


7 


60 


240 


308 


976 


Feb. 


50 


154 


38 


1 


456 


698 


191 


8 


63 


250 


321 


1,019 


Mar. 


50 


155 


38 


1 


461 


705 


192 


8 


63 


252 


323 


1,028 


Apr. 


48 


151 


37 


1 


449 


686 


186 


7 


62 


249 


319 


1,005 


May <2) 












632 


170 








302 


934 



In continuation of table on pages 61-62 of the April \>)i'> Statistical Summar; 
which the Dominion government contributed. (1) Revised. (2) Preliminary. 



{Persons in receipt of material aid (through Municipal or Provincial governments) 



JULY 1939 



115 



X— ESTIMATED EMPLOYMENT AND UNEMPLOYMENT OF WAGE-EARNERS* 

Dominion Bureau of Statistics 








Number in Thousands 


1 


NDEXES 1926 = 


100 






Total 


Wage- 


Wage- 


Total 


Wage- 


Wage- 


Unemployed 
to Total 




Wage- 


Earners 


Earners 


Wage- 


Earners 


Earners 




Earners 


Employed 


Unemployed 


Earners 


Employed 


Unemployed 


Wage-Earners 


Annual Average 
















1926 


2,140 


2,042 


99 


100.0 


100.0 


100.0 


4.6 


1929 


2,551 


2,444 


107 


119.2 


119.7 


108.1 


4.2 


1932 


2,459 


1,820 


639 


114.9 


89.1 


645.5 


26.0 


1933 


2,434 


1,788 


647 


113.7 


87.6 


653.5 


26.6 


1934 


2,530 


2,009 


520 


118.2 


98.4 


525.3 


20.6 


1935 


2,539 


2,056 


483 


118.6 


100.7 


487.9 


19.0 


1936 


2,572 


2,142 


430 


120.2 


104.9 


434.3 


16.7 


1937 


2,706 


2,369 


337 


126.4 


116.0 


340.4 


12.5 


1938 


2,704 


2,297 


407 


126.4 


112.5 


411.1 


15.1 


Month-end 
















1938— Jan. 


2,703 


2,300 


403 


126.3 


112.6 


407.1 


14.9 


Feb. 


2,661 


2,225 


436 


124.3 


109.0 


440.4 


16.4 


Mar. 


2,619 


2,163 


456 


122.4 


105.9 


460.6 


17.4 


Apr. 


2,649 


2,212 


437 


123.8 


108.3 


441.4 


16.5 


May 


2,704 


2,304 


400 


126.4 


112.8 


404.0 


14.8 


1939— Jan. 


2,678 


2,193 


485 


125.1 


107.4 


489.9 


18.1 


Feb. 


2,684 


2,193 


491 


125.4 


107.4 


496.0 


18.3 


Mar. 


2,655 


2,161 


494 


124.1 


105.8 


499.0 


18.6 


Apr. 


2,659 


2,186 


473 


124.3 


107.1 


477.8 


17.8 


May 


2,724 


2,329 


395 


127.3 


114.1 


399.0 


14.5 



(*) Wage-earners are defined, in general, as persons who have worked for a wage or salary or who have had specific vocational training, 
are, with appropriate fractional weightings, included in both the employed and unemployed categories. 



URBAN 
THOUSANDS OF PERSONS 



DIRECT RELIEF RECIPIENTS : 1937-39 

FULLY EMPLOYABLE* TOTAL URBAN AND AGRICULTURAL 



THOUSANDS OF PERSONS 



1250 



1000 




'Total of columns A + B + C on opposite page. 



116 



JULY 1939 



XI— EXTERNAL TRADE : VOLUME OF IMPORTS 

Compiled from Trade of Canada, Dominion Bureau of Statistics 





Sugar 

and 

Syrups 


Tea 


Coffee 


Raw 

Cotton 


Raw 
Wool 


Petroleum 
Oils 


Crude 
Rubber 


Coal 


Tin 
Plate 


Structural 
Iron 
and 
Steel 


Index: (1) 

Volume 

of 

Total 




Pounds 


Pounds 


Pounds 


Pounds 


Pounds 


Gallons 


Pounds 


Short tons 


Short tons 




Imports 




Millions 


Millions 


Millions 


Millions 


Millions 


Millions 


Millions 


Millions 


Thousands 


Thousands 




Calendar Year Totals 
























1926 


1,260 


38 


25 


135 


15 


766 


45 


17 


75 


203 


100 


1929 


1,055 


39 


29 


136 


12 


1,359 


80 


18 


82 


381 


137 


1932 


990 


40 


31 


97 


9 


1,115 


47 


12 


40 


31 


64 


1933 


959 


39 


34 


120 


14 


1,119 


43 


11 


81 


19 


55 


1934 


992 


39 


35 


143 


15 


1,206 


64 


13 


85 


32 


67 


1935 


1,081 


35 


35 


121 


15 


1,293 


60 


12 


81 


43 


70 


1936 


1,233 


40 


41 


150 


23 


1,378 


62 


13 


94 


53 


79 


1937 


1,098 


40 


38 


158 


24 


1,503 


81 


15 


117 


76 


89 


1938 


1,141 


38 


43 


135 


16 


1,421 


58 


13 


78 


43 


81 


12 Months Ending 
























May 1939 


1,173 


44 


44 


118 


16 


1 ,424 


65 


13 


60 


39 


80 


Monthly Totals , 
























1938— Feb. 


25.7 


2.4 


2.8 


10.9 


1.3 


50.3 


1.4 


1.0 


5.3 


2.9 


66 


Mar. 


38.1 


3.6 


5.2 


13.1 


3.3 


71.0 


4.8 


1.1 


6.1 


3.5 


92 


Apr. 


43.5 


2.2 


2.8 


6.8 


1.5 


58.8 


2.2 


.7 


7.2 


3.1 


70 


May 


169.1 


3.1 


5.5 


11.9 


1.6 


160.1 


5.7 


1.2 


12.3 


4.3 


97 


1939— Feb. 


24.5 


2.6 


3.6 


6.0 


1.6 


54.1 


3.3 


1.0 


1.3 


1.8 


59 


Mar. 


36.3 


4.5 


4.0 


7.3 


2.6 


75.3 


5.5 


1.2 


2.5 


3.5 


86 


Apr. 


55.4 


7.9 


2.5 


4.5 


.9 


52.6 


3.5 


.7 


3.3 


2.6 


62 


May 


198.1 


2.6 


6.8 


13.1 


2.4 


150.0 


6.9 


1.3 


6.9 


3.8 


108 



(1) Index of Total Import Values divided by D.B.S. Import Price Index. 



MILLIONS OF BUSHELS 

250 



EXPORTS OF WHEAT AND FLOUR 
VOLUME Dominion Bureau of Statistics VALUE 

MONTHLY TOTALS CUMULATIVE FROM AUG I 



MILLIONS OF 




ASONDJFMAMJJ ASONDJFMAMJ 

(1) Export clearances of Canadian wheat and flour according to customs returns. (2) Flour: as above. Wheat: overseas shipments of Canadian 
wheat from Canadian and United States ports, as compiled by the Canadian Board of Grain Commissioners + United States imports for 
consumption and for milling in bond. f July preliminary. 



TULY 1939 



117 



XI— EXTERNAL TRADE : VOLUME OF EXPORTS 

Compiled from Trade of Canada, Dominion Bureau of Statistics 








Wheat 
and 
Flour 


Fish 


Bacon 
and 
Hams 


Cheese 


Newsprint 
and 
Wood 
Pulp 


Lumber 


Nickel 


Copper 


Auto- 
mobiles 

and 
Trucks 


Non- 
Monetary 
Gold* 


Index: (,) 

Volume 

of 

Can. 














Board Feet 


Short tons Short tons 




Fine ounce 


Exports 




Millions 


Millions 


Millions 


Millions 


Thousands 


Millions 


Thous'ds 


Thous'ds 




Thousands 




Calendar Year Totals 
























1926 


297 


435 


93 


135 


2,738 


2,132 


32 


59 


74 


1,469 


100 


1929 


254 


417 


29 


93 


3,346 


1,755 


55 


124 


102 


1,798 


99 


1932 


251 


258 


36 


87 


2,229 


674 


16 


133 


13 


2,981 


71 


1933 


217 


303 


73 


74 


2,447 


1,018 


44 


124 


20 


2,859 


74 


1934 


191 


288 


120 


61 


3,020 


1,368 


59 


156 


43 


3,238 


83 


1935 


188 


323 


125 


56 


3,237 


1,337 


71 


199 


64 


3,396 


89 


1936 


265 


321 


158 


82 


3,748 


1,750 


87 


206 


56 


3,757 


108 


1937 


114 


324 


196 


89 


4,326 


1,858 


111 


219 


66 


4,158 


98 


1938 


132 


286 


171 


81 


2,979 


1,667 


99 


280 


58 


4,591 


95 


12 Months Ending 
























May— 1939 


152 


294 


159 


83 


3,062 


1,801 


105 


287 


57 


4,866 


106 


Monthly Totals 
























1938— Feb. 


4.1 


22.9 


15.1 


.4 


183.8 


117.7 


9.7 


16.5 


7.3 


320 


73 


Mar. 


4.8 


24.9 


16.2 


.9 


254.2 


147.3 


10.2 


27.0 


7.6 


505 


95 


Apr. 


2.4 


9.9 


13.7 


1.6 


219.3 


91.0 


5.9 


19.6 


4.1 


267 


64 


May 


4.7 


13.5 


18.0 


3.7 


257.4 


125.0 


8.5 


29.6 


5.3 


406 


88 


1939— Feb. 


7.1 


23.1 


11.6 


.9 


188.9 


124.1 


10.0 


19.9 


6.0 


370 


91 


Mar. 


8.2 


27.9 


16.2 


.9 


271.0 


155.3 


10.1 


28.8 


6.3 


445 


91 


Apr. 


4.1 


11.6 


10.6 


.4 


204.5 


122.9 


9.4 


20.1 


2.3 


303 


79 


May 


16.0 


15.9 


16.7 


5.4 


299.7 


165.5 


11.4 


32.6 


5.5 


454 


122 



* Net exports adjusted for changes in "earmarked" gold; revised figures on the basis of the table given on page 101 of the June 1939 Statistical Summary. 
(1) Index of Canadian Export Values divided by D.B.S. Export Price Index adjusted to include non-monetary gold. 



EXPORTS OF LUMBER AND NICKEL, BY COUNTRIES : 1926-39 



NICKEL 



MILLIONS OF BOARD FEET 

2500 



2000 



CALENDAR YEAR TOTALS* 



THOUSANDS OF SHORT TONS 



I500 




1 000 











OTHER — ^ A 


it W 






jllP 




J^I^L 


i wmm 






JH ^^ 






^BsfcdH H us a ■ 







125 



100 



75 



50 



25 



1927 '28 '29 '30 '31 '32 '33 '34 '35 
♦Running 12-month Totals in 1937-39. 



1927 '28 '29 '30 '31 '32 33 '34 35 



37 '38 39 



118 



JULY 193 



XII 



EMPLOYMENT, WAGES AND SALARIES IN CERTAIN INDUSTRIES* 

Department of Labour and Dominion Bureau of Statistics 





number of employees 

Thousands 


WAGES AND SALARIES 

Millions of Dollars 




1929 


1933 


1935 


1936 


1937 


1929 


1933 


193S 


1936 


1937 


Mining 

Metals . 


31 

30 
34 

95 

116 

34 

21 

488 

659 

16 

1S8 
19 

207 
5 

27 

8 

36 


25 
25 
13 

63 

106 
24 
12 

327 

469 
15 

122 
15 

137 
4 

19 
5 

24 


39 

26 
15 

80 

121 
28 
20 

386 

554 
15 

. 128 
14 

142 
4 

17 
6 

23 


46 

27 
18 

91 

115 

30 

20 

415 

579 

16 

133 
14 

147 

4 

18 
6 

24 


55 
27 
23 

105 

122 
33 
23 

466 

644 
17 

133 
14 

148 
5 

18 
6 

25 


50 

42 
32 

124 

106 
50 
34 

571 

761 
25 

291 

27 

318 
8 

32 
9 

41 


38 
22 
10 

70 

81 

27 

12 

313 

433 
21 

158 

19 

177 
6 

21 
6 

27 


60 

27 
14 

100 

97 

36 

26 

392 

551 
23 

173 
19 

192 

6 

22 

7 

29 


72 

29 

16 

117 

95 

40 

26 

432 

593 

23 

183 

19 

202 
6 

23 

7 

31 


91 


Coal 


32 


Other 


22 


Total 
Manufacturing (a) 

Textiles & Products. . . 


144 

105 
49 


Automobiles & Supplies 
Other 


32 
513 


Total 
Electric Light & Power . 
Railways 


699 
26 

193 




20 


Total 


213 


Communications 


26 




8 


Total 


34 


Total as Above 


1,018 


712 


819 


862 


944 


1,277 


734 


901 


972 


1,122 



*In continuation of table on page 118 of the July 1938 Statistical Summary, 
products, cement, lime and stone (monumental and ornamental) which are included i 
is also excluded. 

EMPLOYMENT, WAGES AND SALARIES IN CERTAIN INDUSTRIES : 1927-37 



NUMBER OF EMPLOYEES 

THOUSANDS OF EMPLOYEES 



WAGES AND SALARIES 

MILLIONS OF DOLLARS 



I250 



1 000 



750 



500 



250' 















^% 


MINING 


S 




^\ 


RAILWAYS. EXPRESS, 
COMMUNICATIONS ^ 





I250 



I000 







; Includes Electric Light and Power, shown separately in table above. 



119 



XIII— U.S. A. STATISTICS 

Federal Reserve Board or Depl. oj Commerce statistics unless otherwise slated 




JGUST 1939 



Millions of Dollars 

450 



120 



BANK OF CANADA 

SOURCES AND DISTRIBUTION OF CASH 

MONTHLY AVERAGE OF WEDNESDAY FIGURES 



Millions of Dollars 

450 




121 

















AUGUST 1939 


Millions of Dollars 
















I-B 




LIABILITIES 




Chartered Bank Cash 


Govt. 
Deposits 


Other 
Deposits 


Active 

B. of C. 

Note 

Circulation 


All 

Other 

Accounts 


Tel 
An 

Liab 




Notes 
in Tills 


Deposits 

at 
B. of C. 


Total 


Average of 


















Wednesday Figures 


















1935- 9 Mths. 


37.2 


176.5 


213.7 


23.9 


.7 


48.9 


6.8 


29 


1936-12 Mths. 


40.4 


184.7 


225.1 


22.5 


1.0 


64.0 


9.4 


32: | 


1937-12 Mths. 


49.8 


191.4 


241.2 


25.8 


1.2 


90.6 


13.5 


37; 


1938-12 Mths. 


56.0 


199.6 


255.6 


22.8 


2.1 


105.9 


12.5 


39! 1 


1938— July 


55.1 


192.6 


247.7 


16.0 


2.0 


101.3 


13.7 


381 


Aug. 


55.4 


199.8 


255.2 


13.3 


1.6 


104.3 


12.9 


38; 


Sept. 


60.2 


205.5 


265.7 


21.4 


1.0 


111.5 


9.3 


401 ! 


Oct. 


62.0 


216.2 


278.2 


28.6 


1.4 


118.4 


9.5 


431 


Nov. 


58.3 


219.9 


278.2 


26.6 


1.5 


116.4 


10.5 


43: 


Dec. 


59.6 


204.6 


264.2 


28.4 


2.3 


115.6 


10.1 


42( 


1939— Jan. 


61.1 


210.4 


271.5 


23.6 


3.3 


107.5 


10.1 


411 


Feb. 


53.4 


207.0 


260.4 


31.8 


3.1 


106.0 


10.4 


41: 


Mar. 


52.1 


205.3 


257.4 


19.3 


4.3 


107.2 


9.1 


39; 


Apr. 


56.1 


203.7 


259.8 


20.4 


8.0 


109.4 


9.0 


401 


May 


55.4 


206.3 


261.7 


27.1 


8.0 


110.8 


9.8 


4i; 


June 


57.3 


203.8 


261.1 


30.8 


5.0 


108.2 


9.3 


41< 


July 


57.4 


203.6 


261.0 


25.0 


5.1 


111.5 


9.1 


411 


Wednesdays 


















Aug. 2 


53.8 (2> 


203.5 


257.3 (2) 


29.8 


5.8 


117.9 (2) 


10.4 


421 


9 


57.7 (2) 


205.2 


262.9 (2 > 


31.5 


7.1 


114.7 C2) 


10.0 


42( 


16 


58.1 <2) 


201.0 


259.1 2 ' 


28.6 


8.1 


115.0' 2 ' 


9.7 


42( 


23 


60.1 <2) 


203.2 


263.3 <2> 


28.9 


8.6 


114.1 <2) 


10.2 


42< 



(1) Includes "Other Securities". 



ACTIVE NOTE CIRCULATION : 1926-39 



MILLIONS Of DOLLARS 



MILLIONS OF DOLLARS 




1926 1927 1928 1929 1930 1931 1932 1933 

* Active Bank of Canada or Dominion and total Chartered Bank note circulati 



AUGUST 1939 
\NADA 



122 



Millions of Dollars 



ASSETS 




Reserve 








Securities 




Advances 


All 

Other 

Accounts 






Silver 


Foreign 
Currencies 


Total 
Reserve 


Reserve 
Ratio 


Dom.-Prov. 
Short 


Dom.-Prov. 
Long 


Total"' 






















Average of 






















Wednesday Figures 


; 


1.4 


10.3 


166.2 


57.87 


25.6 


94.0 


119.6 


4.1 


4.0 


1935- 9 Mths 




1.8 


11.4 


192.9 


61.69 


37.0 


86.3 


123.2 


1.7 


4.2 


1936-12 Mths 


1 


2.5 


20.4 


204.8 


57.11 


57.9 


98.4 


162.2 


- 


5.1 


1937-12 Mths 


1 


.9 


28.7 


210.6 


54.50 


122.5 


53.0 


181.2 


.9 


6.3 


1938-12 Mths 


; 


_ 


26.5 


207.3 


56.48 


114.5 


52.5 


167.8 


_ 


5.6 


July— 1938 




- 


26.0 


206.5 


55.17 


121.3 


52.5 


173.8 


- 


6.9 


Aug. 




- 


32.9 


214.4 


53.65 


139.8 


48.9 


188.7 


- 


5.8 


Sept. 




- 


36.2 


217.6 


51.02 


161.9 


46.1 


208.0 


4.8 


5.6 


Oct. 




- 


39.8 


220.9 


52.27 


162.2 


42.5 


204.7 


2.0 


5.6 


Nov. 




- 


40.9 


223.3 


54.40 


151.0 


40.5 


191.4 


- 


5.9 


Dec. 




- 


31.1 


219.5 


54.09 


140.1 


41.6 


181.7 


- 


14.7 


Jan.— 1939 




- 


42.1 


236.8 


59.01 


128.8 


39.1 


167.9 


- 


7.0 


Feb. 




- 


32.3 


233.9 


60.26 


129.8 


28.6 


158.4 


- 


5.0 


Mar. 




- 


33.2 


238.9 


60.09 


133.7 


28.5 


162.3 


- 


5.4 


Apr. 




- 


35.6 


241.5 


59.23 


122.8 


43.7 


166.5 


- 


9.5 


May 




- 


41.4 


247.0 


60.97 


110.4 


52.0 


162.5 


- 


4.9 


June 




- 


36.9 


242.4 


60.22 


111.7 


51.3 


163.0 


- 


6.3 


July 

Wednesdays 




- 


45.4 


250.5 


60.98 


113.3 


51.5 


164.8 


- 


5.9 


Aug. 2 




- 


49.2 


254.4 


61.11 


113.3 


52.1 


165.5 


- 


6.4 


9 




- 


50.9 


256.0 


62.31 


107.5 


51.6 


159.1 


- 


5.4 


16 




- 


54.1 


259.3 


62.52 


108.4 


51.9 


160.3 


- 


5.4 


23 



BANK DEBITS : 1936-39 
PERCENTAGE INCREASE C+) OR DECREASE (-) FROM SAME QUARTER OF PREVIOUS YEAR 



20% 



20% 




1936 1937 1938 1939 

t Total debits for 32 clearing house centres. * 3-months ending July 1939 over corresponding 3-months in 1938. 



123 



AUGUST 1939 



II— CFM 



Millions of Dollars 





LIABILITIES 






Notes 


Deposits 


Cash 

in 

Canada"' 


Securities 






Time 


Dom. 


Canadian 


Foreign 


Total 


DOM.-PROV. 












and Prov. 


Deposits' 1 ' 


Deposits' 21 


Short 


Long 


= 


Average of 






















Month-end Figures 
























1926 


L69 


553 


1,341 


53 


1,958 


330 


2,333 


197 


344 




1929 


178 


696 


1,480 


102 


2,293 


418 


2,837 


212 


342 




1932 


132 


486 


1 ,376 


82 


1,955 


312 


2,322 


L86 


490 




1933 


130 


489 


1,379 


62 


1,941 


30S 


2,290 


195 


627 




1934 


136 


514 


1,373 


66 


1,966 


322 


2,317 


203 


684 




1935 


126 


569 


1,445 


65 


2,104 


348 


2,476 


216 


407 


454 




1936 


119 


618 


1,518 


i t 


2,245 


401 


2,668 


225 


447 


628 




1937 


110 


691 


1,574 


90 


2,382 


421 


2,840 


240 


445 


674 




1938 


100 


690 


1,630 


94 


2,449 


408 


2,892 


252 


447 


696 




End of 
























1938— July 


101 


671 


1 ,623 


101 


2,445 


397 


2,862 


235 


422 


717 




Aug. 


99 


687 


1,635 


96 


2,460 


400 


2,878 


257 


435 


710 




Sept. 


104 


725 


1 ,633 


89 


2,492 


425 


2,937 


264 


445 


684 




Oct. 


101 


749 


1,656 


75 


2,518 


419 


2,961 


2S6 


451 


669 




Nov. 


97 


750 


1,655 


94 


2,506 


436 


3,004 


271 


448 


693 




Dec. 


95 


734 


1,660 


100 


2,498 


420 


2,986 


257 


469 


693 




1939— Jan. 


90 


700 


1,667 


90 


2,501 


430 


2,954 


269 


464 


697 




Feb. 


94 


690 


1,691 


89 


2,514 


432 


2,974 


261 


481 


711 




Mar. 


97 


705 


1,700 


86 


2,538 


452 


3,021 


253 


528 


671 




Apr. 


95 


716 


1,697 


97 


2,551 


468 


3,050 


255 


511 


692 




May 


90 


684 


1,678 


162 


2,567 


484 


3,080 


260 


444 


754 




June 


97 


702 


1,680 


159 


2,591 


504 


3,126 


249 


455 


758 




July 


93 


694 


1,697 


12S 


2,567 


474 


3,072 


261 


446 


761 





(1) Estimated month-end deposits payable in Canadian currency. (2) Includes inter-bank deposits. 

(3) Until March 1935; Gold and Coin in Canada, Dominion Notes and "Free" Central Gold Reserve Deposits; after that date: Bank of Canada Notes and Deposit 



CHARTERED BANKS : CASH IN CANADA AND CANADIAN DEPOSITS : 1927-39 

MILLIONS OF DOLLARS BILLIONS Of DOLLARS 



275 



250 



£225 
< 



200 



175 



12-MONTH MOVING AVERAGES PLOTTED ON TWELFTH MONTH 


















S~^\ 


c 


VSH IN CANADA*^ j^r 

// 


/ 


/ x 


y CANADIAN DEPOSITS 


If 




X 


S -f^f 


s 




'■ 1 1 1 


| N 'l 1 


1 1 1 


\ '■ 



275 



250 



225; 



200 



I 75 



1927 1928 1929 

See note (3) above. 



AUGUST 19-39 



124 



> BANKS 

da 



Millions of Dollars 



till 



Loans 



140 
267 
117 
102 

102 
82 
93 

107 
67 



934 
1 ,343 
1,032 

907 

869 
829 
699 

732 
786 

786 
781 
829 
848 
837 
806 

792 

787 
801 
814 
822 

822 
814 



87 
112 
165 
147 

145 
134 
121 
117 
129 

134 
132 
136 
137 
133 
134 

127 
133 
142 
142 
142 
135 
133 



250 

301 

84 

92 

107 
72 
64 
68 
51 

53 
55 
45 
52 
48 
51 

56 
54 
49 
44 
50 
42 
43 



261 
248 
172 
148 

138 
146 
150 
165 

158 

152 
144 
143 

142 
148 
152 

148 
145 
144 
143 
141 
144 
145 



Total 
Assets 



2,864 
3,528 
2,869 
2,831 

2,838 
2,957 
3,145 
3,317 
3,349 

3,322 
3,334 
3,400 
3,424 
3,455 
3,431 

3,396 
3,421 
3,471 
3,496 
3,521 
3,575 
3,520 



DAILY AVERAGE DATA 




Cash 


Canadian 


Ratio of 
Cash to 


Total 
Active 




Canada (3) 


Deposits* 4 ' 


Deposits in 
Canada 


Note 
Circulation' 5 ' 












Average of 










Daily Figures 


192 


1,958 


9.8 


195 


1926 


191 


2,293 


8.3 


205 


1929 


172 


1,955 


8.8 


158 


1932 


189 


1,941 


9.8 


157 


1933 


201 


1,966 


10.2 


163 


1934 


213 


2,108 


10.1 


169 


1935 


225 


2,213 


10.2 


182 


1936 


240 


2,357 


10.2 


200 


1937 


254 


2,412 


10.5 


205 


1938 


245 


2,444 


10.0 


201 


July — 1938 


254 


2,426 


10.5 


201 


Aug. 


263 


2,442 


10.8 


214 


Sept. 


277 


2,474 


11.2 


220 


Oct. 


279 


2,487 


11.2 


214 


Nov. 


261 


2,473 


10.6 


216 


Dec. 


269 


2,473 


10.9 


195 


Jan.— 1939 


260 


2,466 


10.6 


197 


Feb. 


257 


2,485 


10.3 


201 


Mar. 


258 


2,520 


10.2 


204 


Apr. 


261 


2,531 


10.3 


202 


May 


259 


2,537 


10.2 


202 


June 


259 


2,543 


10.2 


204 


July 



:ure« given are annual averages of estimated month-end Canadian deposits in 1926-35 
artered Bank note circulation and Bank of Canada notes in public circulation. 



rid monthly average Canadian deposits in 1936 and after. 



CHARTERED BANKS : CANADIAN AND FOREIGN CALL LOANS : 1926-39 

MILLIONS Or DOLLARS MILLIONS Or DOLLARS 




125 



AUGUST 1939 



III 



SECURITY PRICES 

Bank of Canada 





Dominion of Canada Bonds Payable in Canada Only 

Middle Prices and Yields 


Average of 
Working Days 


SH% due 
1956 


June 1, 
-66 


3% due 
1950 


June 1, 

-55 


i l A% due June 1, 
1946-49 


5% due Oct. 15, 
1943 


2% due June 1, 
1942 




Price 


Yield 


Price 


Yield 


Price 


Yield 


Price 


Yield 


Price 


Yield 


1938 


100.41 


3.22 


99.01 


3.08 


102.73 


2.86 


113.51 


2.27 


101.38 


1.63 


1938— July 
Aug. 
Sept. 


100.93 

100.03 

99.02 


3.18 
3.20 
3.30 


99.20 
99.21 
97.96 


3.06 
3.06 
3.16 


103.05 
102.94 
101.59 


2.82 
2.83 
3.02 


113.73 
113.46 
112.34 


2.22 
2.23 
2.41 


101.93 
101.53 
100.83 


1.49 
1.58 
1.77 


Oct. 
Nov. 
Dec. 


100.24 
101.39 
101.94 


3.23 
3.15 
3.10 


98.89 
99.75 
99.80 


3.09 
3.02 
3.02 


102.30 
103.25 
103.44 


2.91 
2.77 
2.74 


112.62 
113.66 
113.48 


2.31 
2.06 

2.06 


101.14 
101.94 
101.90 


1.68 
1.44 
1.44 


1939— Jan. 
Feb. 
Mar. 
Apr. 


101.99 
102.44 
102.46 
101.53 


3.10 
3.07 
3.07 
3.13 


99.72 
99.94 
100.48 
100.08 


3.02 
3.01 
2.95 
2.99 


103.70 
103.85 
104.02 
103.10 


2.69 
2.67 
2.63 
2.77 


112.97 
112.85 
112.80 
112.00 


2.12 
2.09 
2.06 
2.19 


101.67 
101.49 
101.61 
101.22 


1.49 
1.53 
1.48 
1.61 


May 
June 
July 

Aug. (,) 


101.33 
102.24 
102.12 
101.16 


3.15 
3.08 
3.09 
3.16 


99.47 
100.40 
100.35 

99.28 


3.04 
2.96 
2.96 
3.06 


102.88 
104.38 
104.48 
103.06 


2.80 
2.56 
2.54 
2.75 


111.62 

111.94 
111.90 

111.14 


2.22 
2.10 
2.06 
2.19 


101.07 
101.23 
101.27 
100.93 


1.64 
1.57 
1.55 
1.66 



(1) Average Aug. 1-30. 



DOMINION OF CANADA 3 MONTHS TREASURY BILLS : 1936-39 

CICLD PER CENT PAYABLE IN CANADA ONLY MILLIONS Or DOLLARS 




FMAMJJASONDJF 
1936 
"Average rate of successful tenders for new 



JJASONDJEM 
1937 



AUGUST 1939 



126 



III— SECURITY PRICES 

Bank of Canada 



Average of 


Government Bonds 

Middle Prices and Yields 


Treasury Bills 

Three Months 

Average Yield of Successful 

Tenders") 


Working Days 


Canada* (1) 


U. K.* <■» 


U.S.A.* »> 


Canada 


U.K. 


U.S.A. 




Price 


Yield 


Price 


Yield 


Price 


Yield 


1938 

1938— July 
Aug. 
Sept. 

Oct. 
Nov. 
Dec. 

1939— Jan. 
Feb. 
Mar. 
Apr. 

May 
June 
July 
Aug. (5> 


99.71 

100.07 
99.92 
98.49 

99.57 
100.57 
100.87 

100.86 
101.19 
101.47 
100.81 

100.40 
101.32 
101.24 
100.22 


3.15 

3.12 
3.13 
3.23 

3.16 
3.09 
3.06 

3.06 
3.04 
3.01 
3.06 

3.10 
3.02 
3.03 
3.11 


100.79 

102.50 

101.99 

98.26 

99.44 
99.42 
97.99 

96.97 
96.80 
96.07 
92.80 

93.31 
94.30 
92.59 
89.99 


3.41 

3.28 
3.32 
3.56 

3.52 
3.52 
3.57 

3.61 
3.62 
3.64 
3.77 

3.75 
3.71 
3.78 
3.89 


103.51 

103.99 
104.19 
103.26 

104.44 
104.17 
104.36 

104.74 
105.15 
106.47 
107.15 

108.70 
109.52 
109.49 
108.72 


2.61 

2.58 
2.56 
2.63 

2.54 
2.56 
2.55 

2.52 
2.48 
2.39 
2.34 

2.22 
2.16 
2.16 
2.21 


.590 

.489 
.519 
.608 

.747 
.693 
.672 

.690 
.681 
.655 
.636 

.631 
.614 

.584 
.553 


.614 

.1 22 
.506 
.945 

.773 

.526 

1.003 

.534 

.503 

.506 

1.560 

.669 
.833 
.787 
.703 


.055 

.054 
.047 
.106 

.018 
.027 
.013 

Nil 
.005 
Nil 
.025 

.009 
.004 
.012 
.032 



* Differing coupon rates and maturity provisions, and the fact that the U. S. Treasury issue is exempt from "normal" income tax, vitiate any direct 
comparison of absolute yield levels. 

(1) Average of Dominion of Canada 3% due June 1, 1950-55 and 3Ji% due June 1, 1956-66. 

(2) United Kingdom 3*4% "War Loan" due Dec. 1, 1952 and after; price excluding accrued interest. 

(3) U. S. Treasury 2H% due Mar. 15, 1955-60. 

(4) On (or nearest to) 15th of each month. (5) Average Aug. 1-30 for Bond Prices and Yields. 



LONG TERM DOMESTIC GOVERNMENT BOND YIELDS: 
CANADA, U.K. 8c U.S.A.: 1938-39 







250% 



375% 



127 



AUGUST 1939 



V— ESTIMATED CANADIAN BALAP: 



Millions of Dollars 


















CUR1 
Net Receipts or Crei 




Merchandise (Ex. Gold) 




Tourist Trade 




Interest and Dividends 
































Years 


U.S.A. 


U.K. 


Other 


Total 


U.S.A. 


U.K. 


Other 


Total 


U.S.A. 


U.K. 


Other 


Total 


r 


1926 


188.7 


293.0 


171.3 


275.6 


119.6 


13.5 


3.6 


102.5 


126.1 


96.7 


13.3 


209.5 


1927 


211.6 


213.0 


137.5 


138.9 


143.2 


11.0 


2.4 


129.8 


134.9 


100.7 


17.5 


218.1 




1928 


311.7 


235.8 


206.9 


131.0 


179.7 


9.9 


2.1 


167.7 


148.3 


99.1 


20.9 


226.5 




1929 


365.0 


73.5 


160.2 


131.3 


201.2 


10.9 


2.5 


187.8 


172.8 


112.5 


25.2 


260.1 




1930 


248.8 


62.9 


63.8 


122.1 


191.4 


10.2 


2.4 


178.8 


197.4 


115.0 


23.8 


288.6 




1931 


133.9 


63.4 


53.1 


17.4 


181.9 


6.4 


1.1 


174.4 


198.4 


101.9 


20.5 


279.8 


■ 


1932 


89.7 


102.8 


60.6 


73.7 


163.8 


7.3 


1.5 


155.0 


188.3 


90.7 


17.2 


261.8 




1933 


39.5 


119.6 


66.5 


146.6 


72.5 


5.2 


1.1 


66.2 


172.4 


71.8 


19.9 


224.3 




1934 


63.4 


155.2 


56.3 


148.1 


87.2 


4.2 


0.6 


82.4 


171.2 


74.3 


33.9 


211.6 




1935 


35.1 


187.2 


40.6 


192.7 


125.6 


5.4 


1.0 


119.2 


170.6 


75.7 


37.7 


208.6 




1936 


17.8 


271.6 


68.4 


322.2 


149.3 


7.1 


1.3 


140.9 


192.1 


83.2 


41.5 


238.8 




1937 


107.3 


253.1 


67.5 


213.3 


175.6 


5.3 


- 


170.3 


200.2 


88.0 


42.0 


246.2 


: 


1938* 








180.5 








145.0 








242.0 




(1) Fordefin 


tion see page 


43 of the Mar 


ch 1939 Stat 


istical Sumn 


iary. * Pre 


iminary. 

















BALANCE OF PAYMENTS : CURRENT ACCOUNT NET BALANCES: 1926-38 

JONS OF DOLLARS NET RECEIPTS OR CREDITS : NET PAYMENTS OR DEBITS MILLIONS OF DOLLARS 




AUGUST 1939 

INTERNATIONAL PAYMENTS : 1926-38 
:ount 

Payments or Debits 



128 



Millions of Dollars 



Freight 






Miscellaneous 








Total Current Account 
































Calendar 


V 


Other 


Total 


U.S.A. 


U.K. 


Other 


Total 


Total of Preceding Items 


Non- 
Monetary 
Gold (t) 


Total 


Years 


U.S.A. 


U.K. 


Other 


Total 




7 


5.1 


9.5 


13.0 


6.6 


16.4 


10.0 


203.5 


182.9 


169.7 


149.1 


30.4 


179.5 


1926 


2 


3.7 


12.2 


14.8 


7.9 


14.9 


8.0 


203.2 


92.2 


141.4 


30.4 


32.2 


62.6 


1927 


5 


2.8 


19.4 


7.0 


7.5 


15.3 


15.8 


297.0 


120.8 


213.2 


37.0 


40.1 


77.1 


1928 


5 


0.4 


39.1 


4.0 


7.8 


15.8 


27.6 


375.6 


62.2 


167.5 


270.3 


37.2 


233.1 


1929 


6 


0.8 


32.2 


3.1 


5.4 


16.6 


25.1 


285.3 


73.3 


69.4 


289.2 


38.9 


250.3 


1930 




1.6 


24.6 


4.5 


0.6 


14.1 


19.2 


177.9 


45.5 


56.8 


166.6 


56.9 


109.7 


1931 


5 


0.8 


27.9 


21.1 


1.4 


12.7 


32.4 


158.5 


0.7 


64.4 


93.4 


70.0 


23.4 


1932 


2 


0.9 


22.1 


15.5 


4.2 


12.9 


32.6 


171.9 


34.2 


71.5 


66.2 


81.7 


15.5 


1933 


6 


1.2 


27.9 


5.6 


6.9 


13.3 


25.8 


176.1 


66.2 


75.1 


34.8 


113.6 


78.8 


1934 


4 


0.4 


14.1 


7.4 


7.4 


14.2 


29.0 


100.8 


98.3 


62.7 


60.2 


118.7 


178.9 


1935 


6 


2.1 


17.8 


10.2 


7.8 


16.0 


34.0 


82.9 


169.9 


90.5 


177.5 


131.6 


309.1 


1936 





2.6 


25.5 
20.0 


12.4 


8.8 


17.5 


38.7 
35.2 


166.4 


145.0 


94.6 


73.2 
28.3 


145.1 
160.5 


218.3 
188.8 


1937 

1938* 



BALANCE OF PAYMENTS : CURRENT ACCOUNT NET BALANCES BY COUNTRIES: 1926-37 

MILLIONS OF DOLLARS NET RCCE1PTS OR CREDITS : NET PAYMENTS OR DEBITS MILLIONS OE DOLLARS 



CALENDAR YEAR TOTALS 
OTHER I GOLD* 




129 



AUGUST 1939 



V— INTERNATIONAL PURCHASES AND SALES OF SECURITIES 



Millions of Dollars 




D 


ominion Bureau of Statistics 












Total 

Net Sales 

or 

Net 

Purchases 


Total 
Sales 


Total 
Purchases 


UNITED 


states 


UNITED 


KINGDOM 


OTHER COUNTRIES 




Sales 
To 


Purchases 
From 


Sales 
To 


Purchases 
From 


Sales 
To 


Purchases 
From 


Canadian Bonds 
Dominion 

Dominion Guaranteed 
Provincial 
Municipal 
Other Railway & Corp'n 


6.0 

5.0 

.1 

2.1 
2.0 


11.0 
6.8 
8.9 
2.1 

10.1 


4.9 
1.8 
8.8 
4.2 
8.1 


8.8 
5.9 
8.6 
1.5 

8.2 


3.6 

1.1 
8.3 

2.1 
4.7 


1.5 
.6 

.3 
1.1 


1.0 
.6 

.4 
2.1 
2.9 


.3 

.1 

.2 

.8 


.4 
.1 

.4 


SUB-TOTAL 


11.1 


38.8 


27.7 


33.0 


19.7 


3.7 


7.0 


2.0 


1.0 


United States Bonds 


4.5 


1.7 


6.2 


1.5 


6.2 


- 


- 


2 


- 


Other Countries' Bonds 


2 


1.0 


1.2 


.3 


.4 


.4 


.7 


.3 


.2 


Unspecified Bonds 


1.6 


2.9 


1.4 


2.3 


1.4 


.6 


- 


.1 


- 


TOTAL BONDS 


8.0 


44.4 


36.5 


37.2 


27.7 


4.7 


7.6 


2.6 


1.1 


Common & Pref. Shares 
Canadian 
United States 
Other Countries 


4.7 
1.5 


21.1 

16.5 

.1 


16.4 
15.0 


8.8 

16.3 

.1 


10.7 
14.9 


4.1 
.1 


4.1 


8.2 
.2 


1.7 


TOTAL SHARES 


6.2 


37.7 


31.5 


25.1 


25.6 


4.2 


4.1 


8.4 


1.7 


Other Securities 


- 


- 


- 


- 


- 


- 


- 


- 


- 


TOTAL SECURITIES 


14.2 


82.1 


67.9 


62.3 


53.3 


8.9 


11.8 


11.0 


2.9 



For first quarter figures see page 77 of the May 1939 Statistical Summary. 



INTERNATIONAL NET PURCHASES (-) OR NET SALES C+) OF SECURITIES: 1938-39 

CANADIAN AND FOREIGN SECURITIES CANADIAN BONDS AND SHARES 

MILLIONS OF DOLLARS 

20 



MONTHLY TOTALS 



MILLIONS OF DOLLARS 



CANADIAN • 


Hi 




1 


\// \ //IN 
FOREIGN-— **\ 


' X 



DJF MAMJJASONDJFMAMJJ ASOND 
1938 1939 




J J A S O N D 
1939 



AUGUST 1939 



130 



VI— INDUSTRIAL ACTIVITY 

Dominion Bureau of Statistics 





Physical 1 


PRODUCTION 


Con- 


Car 

Loadings 


Employ- 




Business 
Index 


Gold 


Nickel 


Steel 


Auto- 
mobiles 


News- 


Central 
Electric 


Contracts 


Index'" 




Seasonally 








& Trucks 




Stations 






Seasonally 
adjusted 






Thousands 


Thousands 


Thousands 


Thousands 


Thousands 


Millions 


Millions 






1926 = 100 


Fine Ounces 


Short Tons 


Long Tons 


Short Tons 


Kilowatt Hrs. 


of Dollars 




1926 = 100 


Annual Totals«> 






















1926 


100.0 


1,754 


33 


776 


205.0 


1,889 


11,926 


372.9 


3,253 


100.0 


1929 


125.5 


1,928 


55 


1,378 


262.6 


2,725 


17,633 


576.7 


3,524 


119.2 


1932 


78.7 


3,044 


15 


339 


60.8 


1,919 


15,863 


132.9 


2,176 


86.4 


1933 


79.7 


2,949 


42 


410 


65.9 


2,022 


17,553 


97.3 


2,032 


84.2 


1934 


94.2 


2,972 


64 


758 


116.9 


2,605 


21,160 


125.8 


2,321 


96.4 


1935 


102.4 


3,285 


69 


942 


172.9 


2,765 


23,404 


160.3 


2,358 


99.8 


1936 


112.2 


3,748 


85 


1,116 


162.2 


3,225 


25,934 


162.6 


2,494 


104.0 


1937 


122.7 


4,096 


113 


1,403 


207.5 


3,674 


27,584 


224.1 


2,635 


114.1 


1938 


112.9 


4,716 


105 


1,156 


166.1 


2,625 


25,994 


187.3 


2,429 


111.4 


Monthly Totals 






















1938-Mar. 


108.8 


376.0 


8.6 


118.7 


16.8 


224.6 


2,258 


10.4 


199.5 


111.2 


Apr. 


112.4 


368.4 


10.2 


116.4 


18.8 


200.8 


2,064 


15.0 


184.7 


111.5 


May 


110.7 


381.1 


9.3 


114.9 


18.1 


207.7 


2,082 


18.6 


190.2 


111.9 


June 


108.4 


390.7 


8.2 


109.4 


14.7 


201.7 


1,973 


20.9 


187.5 


111.3 


July 


109.1 


420.8 


8.7 


83.9 


9.0 


202.6 


1,988 


21.2 


182.6 


109.1 


1939-Mar. 


113.2 


414.2 


9.0 


95.7 


17.5 


220.6 


2,367 


9.0 


191.0 


111.1 


Apr. 


118.6 


406.8 


9.2 


99.8 


16.9 


220.8 


2,197 


12.3 


179.0 


110.3 


May 


121.4 


432.4 


10.8 


121.4 


15.7 


250.0 


2,333 


18.4 


214.5 


113.1 


June 


121.4 


436.8 


10.1 


107.9 


14.5 


240.5 


2,245 


25.2 


194.5 


113.6 


July 


120.2 






111.1 


9.1 


227.6 


2,205 


22.1 


196.4 


114.3 



(1) As at end of month. (2) Average of months in case of Physical Volume of Business and Employment Indexes. 



NEWSPRINT : SHIPMENTS TO UNITED STATES AND CONSUMPTION BY U. S. PUBLISHERS 

THOUSANDS OF SHORT TONS RATIO SCALE THOUSANDS OF SHORT TONS 




DJFMAMJJASONDJFMAMJJASONDJFMAMJJASONDJF 

1936 1937 1938 

* Including shipments from Newfoundland. (1) July figures preliminary. 



vlJJASOND 
1939 



131 



AUGUST 1939 



VII- 



CANADA 

Dominion Bureau oj Statistics 



WHOLESALE PRICE INDEXES 

1926 = 100 







Raw 










Products 


Materials 


Foods 


factures 




Averageof MUis. 












1926 


100.0 


100.0 


100.0 


100.0 


100.0 


1929 


100.8 


97.5 


100.0 


93.0 


95.6 


1932 


48.4 


55.0 


61.5 


69.8 


66.7 


1933 


51.0 


56.6 


63.8 


70.2 


67.1 


1934 


59.0 


63.5 


69.7 


73.4 


71.6 


1935 


63.5 


66.0 


70.4 


72.8 


72.1 


1936 


69.4 


70. 8 


73.4 


73.6 


74.6 


1937 


87.0 


84.2 


81.2 


80.4 


84.5 


1938 


73.6 


72.7 


77. L 


78.2 


78.6 


Monthly 












1938-July 


71.5 


72.5 


79.0 


78.4 


78.6 


Aug. 


64.2 


67.5 


75.8 


77.0 


76.0 


Sept. 


63.8 


65.6 


74.3 


75.6 


74.5 


Oct. 


63.8 


65.1 


73.0 


74.8 


74.1 


Nov. 


64.9 


64.6 


72.0 


74.0 


73.5 


Dec. 


64.6 


64.9 


75.0 


73.6 


73.3 


1939-Jan. 


64.8 


64.8 


71.7 


73.5 


73.3 


Feb. 


64.7 


64.9 


71.9 


73.6 


73.2 


Mar. 


65.1 


65.1 


72.2 


73.2 


73.2 


Apr. 


65.5 


65.5 


72.3 


73.3 


73.4 


Mav 


65.2 


66.5 


72.2 


73.2 


73.7 


June 


63.3 


65.0 


71.9 


73.1 


73.3 


July 


62.7 


63.1 


71.5 


73.0 


72.6 



U.K. 


Board of Trade w 


Foods 


Total 


100.0 


100.0 


93.9 


92.1 


71.8 


69.1 


67.8 


69.2 


69.5 


71.1 


71.0 


71.8 


75.0 


76.2 


83.7 


87.8 


79.7 


81.9 


SO.O 


81.2 


77.5 


80.3 


75.2 


79.4 


75.7 


80.0 


74.1 


79.4 


75.1 


79.3 


75.7 


78.4 


74.5 


78.1 


73.7 


78.0 


74.8 


78.4 


75.2 


78.9 


75.2 


79.2 


74.(1 


79.2 



U.S.A. 

Bureau of Labour 



Farm 
Products 


Raw 

Materials 


Foods 


Manu- 
factures 
f2) 


Total 


100.0 


100.0 


100.0 


100.0 


100.0 


104.9 


97.5 


99.9 


94.5 


95.3 


48.2 


55.1 


61.0 


70.3 


64.8 


51.4 


56.5 


60.5 


70.5 


65.9 


65.3 


68.6 


70.5 


78.2 


74.9 


7S.S 


77.1 


83.7 


82.2 


80.0 


80.9 


79.9 


82.1 


82.0 


80.8 


86.4 


84.8 


85.5 


S7.2 


86.3 


68.5 


72.0 


73.6 


82.2 


78.6 


69.4 


72.3 


71 .3 


S2.5 


78.8 


67.3 


71.1 


73.0 


81.8 


78.1 


68.1 


72.0 


74.5 


81.8 


78.3 


66.8 


70.9 


73.5 


81.1 


77.6 


67.8 


71.5 


74 . 1 


80.5 


77.5 


67.6 


70.9 


73.1 


80.2 


77.0 


67.2 


70.9 


71.5 


SO.O 


76.9 


67.2 


70.9 


71.5 


80.2 


76.9 


65.8 


70.1 


70.2 


80.2 


76.7 


63.7 


68.5 


68.6 


80.1 


76.2 


63.7 


68.9 


68.2 


79.9 


76.2 


62.4 


67.7 


67.6 


79.6 


75.6 


62.6 


67.8 


67.5 


79.2 


75.4 



WHOLESALE PRICE INDEXES : CANADA, U.K. AND U.S. A.: 1936-39 

1926-100 1926 = 100 




AUGUST 1939 



132 



Canadian Dollar 



VIII— WHOLESALE PRICES: CHIEF COMMODITIES 

Dominion Bureau of Statistics and Engineering & Mining Journal 





Wheat 


Flour 


Newsprint 


Pulp 


Lumber 


Copper 


Steel 


Cotton 


Gasoline 


Coal 




No. 1 


First 




Bleached 


Fir 


Electro- 


Billets 


Middling 


Tank 


American 




Northern 


Patent 




Sulphite 


Flooring 


lytic 






Wagon 


Bituminous 




Lake-head 


Montreal 


f.o.b. Mills 


f.o.b. Mills 


f.o.b. Mills 


London (1) 


f.o.b. Plant 


Hamilton 


Toronto 


Toronto' 2 ' 




bushel 


barrel 


short ton 


short ton 


M. bd. ft. 


cwt. 


long ton 


pound 


gallon 


short ton 


Annual Average 






















1926 


1.50 


8.82 


65.0 


80.0 


26.0 


13.8 


38.0 


.194 


.253 


6.47 


1929 


1.34 


7.93 


55.0 


75.0 


24.8 


18.3 


36.0 


.199 


.199 


6.02 


1932 


.56 


4.81 


50.2 


55.0 


14.5 


6.3 


34.0 


.085 


.179 


5.65 


1933 


.61 


5.09 


37.1 


52.5 


14.3 


7.5 


34.0 


.106 


.173 


5.35 


1934 


.75 


5.50 


32.9 


55.0 


14.5 


7.4 


34.0 


.138 


.163 


5.73 


1935 


.84 


5.43 


33.4 


53.5 


15.1 


7.8 


34.0 


.138 


.158 


5.86 


1936 


.94 


6.08 


34.2 


53.0 


22.2 


9.5 


34.2 


.141 


.149 


6.75 


1937 


1.34 


7.73 


36.1 


65.6 


27.0 


13.1 


41.2 


.137 


.159 


6.75 


1938 


1.02 


6.49 


43.4 


59.5 


23.6 


10.0 


40.0 


.106 


.158 


6.75 


Monthly 






















1938— July 


.98 


6.75 


43.2 


59.0 


24.8 


9.8 


38.0 


.109 


.160 


6.75 


Aug. 


.77 


6.00 


43.1 


59.0 


25.8 


10.0 


38.0 


.104 


.160 


6.75 


Sept. 


.63 


5.17 


43.2 


59.0 


24.8 


10.2 


38.0 


.100 


.160 


6.75 


Oct. 


.62 


5.03 


43.4 


56.0 


24.0 


11.0 


38.0 


.107 


.150 


6.75 


Nov. 


.59 


4.88 


43.3 


54.0 


22.0 


10.8 


38.0 


.107 


.150 


6.75 


Dec. 


.61 


4.83 


43.4 


52.0 


22.0 


10.3 


38.0 


.103 


.150 


6.75 


1939— Jan. 


.60 


4.88 


43.3 


52.0 


22.0 


10.2 


38.0 


.106 


.150 


6.75 


Feb. 


.60 


4.95 


43.2 


52.0 


22.0 


10.0 


38.0 


.106 


.150 


6.75 


Mar. 


.60 


4.95 


43.2 


52.0 


22.0 


10.1 


38.0 


.105 


.150 


6.75 


Apr. 


.61 


4.95 


43.2 


52.0 


23.0 


10.0 


38.0 


.102 


.150 


6.75 


May 


.66 


4.76 


43.2 


52.0 


23.0 


10.0 


38.0 


.110 


.150 


6.75 


June 


.62 


4.38 


43.1 


52.0 


23.0 


10.0 


38.0 


.118 


.145 


6.75 


July 


.55 


4.20 


43.1 


52.0 


23.0 


10.2 


38.0 


.113 


.145 


6.75 



* Prices have been converted into Canadian Funds where necessary. (1) New York price prior to June 1932. (2) Montreal price prior to 1931. 



CANADIAN EXPORT PRICE INDEXES : 1937-39 




DJFMAMJJ 
1937 

Excluding gold. 



133 



AUGUST 1939 



Millions of Dollars 



IX— EXTERNAL TRADE : MERCHANDISE IMPORTS* 

Compiled from Trade of Canada, Dominion Bureau of Statistics 





From 


Total 
Imports 


Re-Exports 


Total 
Retained 
Imports 


Excess of 




U.K. 


Other 

British 


U.S.A. 


Other 
Foreign 


Exports 
or Imports 


Calendar Year Totals 


















1926 


165 


50 


669 


125 


1,008 


15 


993 


299 


1929 


195 


62 


894 


148 


1,299 


26 


1,273 


84 


1932 


94 


35 


264 


61 


453 


8 


445 


115 


1933 


98 


35 


217 


51 


401 


6 


395 


216 


1934 


113 


44 


294 


63 


513 


7 


507 


256 


1935 


117 


57 


312 


64 


550 


13 


537 


306 


1936 


123 


66 


370 


77 


635 


13 


622 


447 


1937 


147 


89 


491 


82 


809 


IS 


794 


349 


1938 


119 


67 


425 


67 


677 


11 


666 


333 


12 Months Ending 


















June* 1939 


115 


67 


414 


66 


662 


11 


651 


379 


Monthly 


















1938— Feb. 


8.8 


3.1 


31.2 


3.9 


47.0 


.8 


46.1 


24.7 


Mar. 


11.5 


5.4 


42.9 


5.3 


65.1 


.9 


64.2 


26.7 


Apr. 


9.2 


3.9 


31.4 


4.5 


48.9 


.7 


48.2 


12.0 


May 


11.9 


7.8 


40.5 


6.9 


67.1 


.9 


66.2 


15.1 


June 


9.2 


7.1 


37.1 


5.5 


58.9 


.9 


58.1 


19.3 


July 


9.7 


6.8 


34.1 


5.3 


55.8 


1.0 


54.8 


22.8 


1939— Feb. 


7.2 


2.5 


27.0 


3.6 


40.4 


.7 


39.7 


30.8 


Mar. 


11.1 


4.4 


38.4 


4.5 


58.4 


.8 


57.6 


27.2 


Apr. 


6.6 


3.6 


28.4 


3.3 


41.9 


.7 


41.2 


19.6 


May 


12.9 


8.6 


43.1 


8.3 


73.0 


.8 


72.2 


23.6 


June 


10.1 


8.3 


39.4 


5.9 


63.7 


1.2 


62.5 


31.1 


July* 



















^Excluding gold. * July figures not yet available. 

MERCHANDISE TRADE EXPORT BALANCE*: 1936-39 

MILLIONS OF DOLLARS 

60 



LLIONS Or DOLLARS 

60 




JTMAMJJASONDJFMAMJJASO 
1936 1937 

Includes gold, t July figures not yet available. 



J A S O N D J 



M J J 
1939 



AUGUST 1939 



134 



Millions of Dollars 



IX— EXTERNAL TRADE : MERCHANDISE EXPORTS 

Compiled from Trade of Canada, Dominion Bureau of Statistics 





Merchandise (Excluding Gold) 


Non- Monetary Gold 
























Exports 






To 




Total 


Exports 


Domestic 

Monetary 
Purchase 


Imports 


Net Change 
in Gold 
held for 
Acct. of 

Foreigners 


Including 
Net Non- 




U.K. 


Other 

British 


U.S.A. 


Other 
Foreign 


Monetary 
Gold 


Calendar Year Totals 






















1926 


459 


96 


458 


248 


1,261 


9.5 


21.7 


.8 


- 


1,292 


1929 


290 


105 


493 


264 


1,152 


35.8 


2.3 


.9 


- 


1,190 


1932 


178 


39 


159 


114 


490 


61.0 


9.3 


.3 


- 


560 


1933 


211 


45 


168 


106 


529 


79.1 


2.6 


- 


- 


611 


1934 


270 


65 


219 


95 


649 


109.5 


4.2 


.1 


- 


763 


1935 


304 


74 


262 


86 


725 


117.3 


2.0 


.6 


- 


844 


1936 


395 


84 


334 


124 


938 


85.0 


- 


.7 


47.0 


1,069 


1937 


402 


104 


360 


131 


997 


113.0 


12.2 


.3 


20.3 


1,143 


1938 


340 


103 


270 


125 


838 


136.5 


4.2 


57.8 


77.7 


999 


12 Months Ending 






















July 1939f 


337 


101 


304 


122 


864 


147.3 


25.4 


390.8 


397.7 


1,043 


Monthly 






















1938— Feb. 


27.3 


7.7 


16.8 


7.8 


59.6 


11.2 


- 


- 


- 


70.8 


Mar. 


27.8 


10.6 


22.7 


12.3 


73.3 


8.3 


- 


- 


9.3 


90.9 


Apr. 


18.7 


6.2 


18.0 


8.0 


50.9 


4.7 


- 


- 


4.6 


60.2 


May 


27.9 


8.2 


20.4 


10.5 


67.0 


4.9 


- 


26.0 


35.4 


81.3 


June 


25.6 


10.3 


20.0 


10.0 


65.9 


11.5 


- 


.4 


.4 


77.4 


July 


25.8 


9.7 


21.0 


9.7 


66.2 


11.5 


- 


.1 


.1 


77.7 


1939— Feb. 


22.8 


7.1 


19.7 


8.0 


57.6 


4.2 


8.6 


1.9 


2.1 


70.5 


Mar. 


26.1 


9.6 


24.7 


9.0 


69.3 


7.1 


2.7 


2.9 


8.6 


84.8 


Apr. 


17.0 


5.3 


20.9 


7.2 


50.3 


5.5 


3.1 


6.2 


8.1 


60.8 


May 


31.1 


9.8 


28.1 


11.0 


79.9 


14.2 


- 


163.5 


165.2 


95.8 


June 


30.3 


9.3 


26.4 


10.4 


76.4 


16.9 


- 


184.0 


184.3 


93.6 


Julyt 


31.4 


8.2 


26.9 


9.3 


75.8 


15.1 


- 


.8 


1.0 


91.0 



*For explanation of headings, see foot-notes to table on page 43 of the March 19.39 Statistical Summary. fPreliminary. 

MERCHANDISE IMPORTS AND EXPORTS BY COUNTRIES : 1937-39 

IMPORTS'" EXPORTS 



MILLIONS OP DOLLARS 



RATIO SCALE 



MILLIONS OF DOLLARS 




1200 




DMJSDMJSDMJSD DMJSDMJSD 

1937 1938 1939 1937 1938 

(1) Includes imports destined for re-export; excluding gold. (2) July figures not yet available. (3) Excluding gold. 



135 



Millions of Dollat 



ESTIMATED FOREIGN CAPITAL INVESTED IN CANADA : 1926-37 

CLASSIFIED BY TYPES OF INVESTMENT 

Dominion Bureau of Statistics 



As at 
Dec. 31 


Dominion Government 


Provincial and Municipal 


Railways 




U.K. 


U.S.A. 


Ml he 


Total 


U.K. 


U.S.A. 


Other 


Total 


U.K. 


U.S.A. 


Other 


Total 


1926 


250.1 


381.9 


_ 


632.0 


259.6 


527.1 


5.1 


791.8 


1111.5 


438.8 


23.1 


1573.4 


1927 


246.2 


3S1.9 


- 


628.1 


255.8 


593.4 


4.8 


854.0 


1096.6 


485.2 


20.7 


1602.5 


1928 


242.0 


376.6 


- 


618.6 


259.8 


601.0 


4.4 


865.2 


1074.7 


539.4 


2 1 .9 


1636.0 


1929 


238.5 


333.1 


- 


571.6 


257.0 


660.0 


4.1 


921.1 


1097.6 


649.0 


24.4 


1771.0 


1930 


234.5 


440.5 


- 


675.0 


251.4 


764.4 


3.9 


1019.7 


1096.9 


713.6 


24.6 


1835.1 


1931 


229.2 


398.2 


- 


627.4 


240.1 


797.7 


3.6 


1041.4 


1100.1 


771.1 


25.1 


1896.3 


1932 


222.3 


458.0 


- 


680.3 


231.9 


77S.O 


3.3 


1013.2 


1092.9 


757.0 


24.3 


1874.2 


1933 


291.4 


450.5 


- 


741.9 


218.1 


741.0 


3.3 


962.4 


loss..-) 


747.2 


23.5 


1859.2 


1934 


323.3 


426.1 


- 


749.4 


219.4 


721.6 


3.3 


944.3 


107S.2 


720.4 


21.0 


1825.6 


1935 


318.8 


488.5 


- 


807.3 


207.5 


699.7 


3.2 


910.4 


1073.9 


589.2 


19.9 


1683.0 


1936 


318.8 


487.5 


- 


806.3 


205.4 


673.8 


3.2 


882.4 


1062.1 


546.0 


25.4 


1633.5 


1937 


317.1 


546.6 


- 


863.7 


197.1 


634.0 


3.2 


834.3 


1065.6 


538.5 


2S.S 


1632.9 



Millions of Dollars 



As at 
Dec. 31 


Other Utilities"' 


Manufacturing 


Mining 




U.K. 


U.S.A. 


Other 


Total 


U.K. 


U.S.A. 


Other 


Total 


U.K. 


U.S.A. 


Ol her 


ToC.il 


1926 


111.9 


349.7 


4.7 


466.3 


353.4 


955.1 


12.8 


1321.3 


95.0 


190.0 


3.0 


288.0 


1927 


123.8 


386.8 


5.2 


515.8 


379.0 


1025.1 


13.6 


1417.7 


99.0 


197.0 


3.0 


299.0 


1928 


134.9 


421.6 


5.6 


562.1 


410.8 


1118.8 


14. S 


1544.4 


117.0 


234.0 


4.0 


355.0 


1929 


148.8 


465.0 


6.2 


620.0 


430.6 


1169.3 


15.8 


1615.7 


120.0 


239.0 


4.0 


363.0 


1930 


158.6 


495.6 


6.6 


660.8 


426.2 


1177.5 


15.3 


1619.0 


9S.0 


270.0 


S.O 


376.0 


1931 


167.6 


523.9 


7.0 


698.5 


393.2 


1070.6 


14.3 


1478.1 


93.0 


254.0 


S.O 


355.0 


1932 


176.7 


552.0 


7.4 


736.1 


362.3 


982.3 


13.1 


1357.7 


87.0 


239.0 


7.0 


333.0 


1933 


180.5 


563.9 


7.5 


751.9 


354.5 


951.6 


12.9 


1319.0 


S7.0 


241.0 


7.0 


335.0 


1934 


184.0 


575.0 


7.7 


766.7 


363.1 


966. S 


13.3 


1343.2 


91.0 


252.0 


7.0 


350.0 


1935 


187.2 


585.1 


7.7 


780.0 


373.5 


991.8 


13.7 


1379.0 


S5.0 


234.0 


7.0 


326.0 


1936 


184.8 


570.0 


7.6 


762.4 


377.4 


1001.7 


13.9 


1393.0 


S9.0 


244.0 


7.0 


340.0 


1937 


176.0 


553.0 


9.0 


738.0 


370.0 


965.0 


16.0 


1351.0 


90.0 


257.0 


10.0 


357.0 



Millions of Dollars 



As at 
Dec. 31 


Merchandising and Service 


M ISCELLANEOUS (i) 


Grand Total 




U.K. 


U.S.A. 


Other 


Total 


U.K. 


U.S.A. 


Other 


Total 


U.K. 


U.S.A. 


Other 


Total 


1926 


77.0 


154.0 


4.4 


235.4 


339.3 


164.6 


78.6 


582.5 


2597.8 


3161.2 


131.7 


5890.7 


1927 


79.1 


158.2 


4.5 


241.8 


348.8 


196.2 


80.4 


625.4 


202S.3 


3423.8 


132.2 


6184.3 


1928 


81.9 


163.8 


4.7 


250.4 


372.5 


209.4 


S5.3 


667.2 


2693.6 


3664.6 


140.7 


6498.9 


1929 


83.7 


167.3 


4.S 


255.8 


388.0 


243.8 


85.7 


717.5 


2764.2 


3926.5 


145.0 


6835.7 


1930 


82.3 


164.5 


4.7 


251.5 


418.1 


272.3 


6S.4 


758.8 


2766.0 


4298.4 


131.5 


7195.9 


1931 


77.7 


155.4 


4.4 


237.5 


386.2 


283.6 


63.8 


733.6 


2687.1 


4254.5 


126.2 


7067.8 


1932 


73.9 


147.7 


4.2 


225.8 


384.7 


2S4.3 


64.9 


733.9 


2631.7 


419S.3 


124.2 


6954.2 


1933 


71.8 


143.5 


4.1 


219.4 


3X2.0 


276.5 


66.0 


725.1 


2674.4 


4115.2 


124.3 


6913.9 


1934 


72.6 


145.2 


1.2 


222.0 


397.9 


299.0 


67.0 


763.9 


2729.5 


4112.1 


12;-!..-) 


6965.1 


1935 


74.2 


148.4 


4.2 


226.8 


109.2 


307.9 


67.9 


785.0 


2729.3 


4044.6 


123.6 


6897.5 


1936 


73.6 


147.2 


4.2 


225.0 


407.8 


303.8 


68.4 


780.0 


2718.9 


3974.0 


129.7 


6822.6 


1937 


73.0 


145.0 


4.0 


222.0 


396.0 


293.3 


76.8 


766.1 


2684.8 


3932.4 


147.8 


6765.0 



(1) Including both direct and portfolio investments. (2) Traction, light, heat, power, telephone, etc. (3) Includes (a) The excess of British and Foreign insurance 
companies' assets in Canada over actuarial liabilities to ( ana. Han policy holders, etc., and the equity of foreign shareholders in Canadian insurance companies, (b) Finance 
and mortgage companies, (c) Other investments including agricultural loans, summer homes, prospecting, assets administered for persons or corporations residing outside 
of Canada, etc. 



\UGUST 1939 



136 



Millions of Dollars 



XI— ESTIMATED CANADIAN INVESTMENTS ABROAD : 1926-37 

CLASSIFIED BY TYPES OF INVESTMENT 

Dominion Bureau of Statistics 



As at 


Canadian Govt. Credits 


Est. Net Assets of Canadian 
Banks Outside Canada 


Direct Investments"' 




U.K. 


U.S.A. 


Other 


Total 


U.K. 


U.S.A. 


Other 


Total 


U.K. 


U.S.A. 


Other 


Total 


192(5 


_ 


_ 


36.1 


36.1 


42.0 


262.4 


65.9 


370.3 


7.0 


250.0 


140.0 


397.0 


1927 


- 


- 


32.4 


32.4 


42.7 


246.2 


65.3 


354.2 


7.5 


251.0 


143.0 


401.5 


1928 


- 


- 


31.1 


31.1 


34.1 


183.3 


50.2 


267.6 


8.0 


257.0 


147.0 


412.0 


1929 


- 


- 


30.9 


30.9 


30.8 


91.8 


57.2 


179.8 


8.5 


259.0 


156.0 


423.5 


1930 


- 


- 


30.7 


30.7 


40.3 


90.2 


49.7 


180.2 


14.0 


260.0 


169.0 


443.0 


1931 


- 


- 


30.5 


30.5 


23.2 


77.3 


52.0 


152.5 


14.0 


260.0 


171.0 


445.0 


1932 


- 


- 


30.5 


30.5 


17.8 


69.4 


27.6 


114.8 


14.0 


260.0 


172.0 


446.0 


1933 


- 


- 


30.5 


30.5 


22.1 


38.5 


30.3 


90.9 


14.0 


260.0 


173.0 


447.0 


1934 


- 


- 


30.5 


30.5 


20.6 


62.6 


26.5 


109.7 


14.0 


262.0 


173.0 


449.0 


1935 


- 


- 


30.5 


30.5 


15.9 


82.3 


11.4 


109.6 


14.0 


266.0 


173.0 


453.0 


1936 


- 


- 


30.5 


30.5 


12.6 


86.0 


8.4 


107.0 


14.3 


319.5 


164.0 


497.8 


1937 


- 


- 


30.9 


30.9 


10.1 


101.5 


8.4 


120.0 


13.2 


327.9 


169.7 


510.7 



Millions of 


Dollars 
















As at 
Dec. 31 


Miscellaneous"' 


Grand Total 




U.K. 


U.S.A. 


Other 


Total 


U.K. 


U.S.A. 


Other 


Total 


1926 


10.0 


195.0 


253.0 


458.0 


59.0 


707.4 


495.0 


1261.4 


1927 


10.0 


278.0 


314.0 


602.0 


60.2 


775.2 


554.7 


1390.1 


1928 


10.0 


357.0 


358.0 


725.0 


52.1 


797.3 


586.3 


1435.7 


1929 


10.0 


437.0 


363.0 


810.0 


49.3 


787.8 


607.1 


1444.2 


1930 


10.0 


459.0 


373.0 


842.0 


64.3 


809.2 


622.4 


1495.9 


1931 


10.0 


468.0 


378.0 


856.0 


47.2 


805.3 


631.5 


1484.0 


1932 


10.0 


460.0 


383.0 


853.0 


41.S 


789.4 


613.1 


1444.3 


1933 


10.0 


465.0 


390.0 


865.0 


46.1 


763.5 


623.8 


1433.4 


1934 


10.0 


477.0 


387.0 


874.0 


44.6 


801.6 


617.0 


1463.2 


1935 


10.0 


489.0 


385.0 


884.0 


39.9 


837.3 


599.9 


1477.1 


1936 


10.0 


501.0 


383.0 


894.0 


36.9 


906.5 


585.9 


1529.3 


1937 


8.0 


507.0 


382.0 


897.0 


31.3 


936.4 


590.9 


1558.6 



Canadian 


Insurance Companies' 3 ' 


Foreign Liabilities and Assets 


Total 
Liabilities 


Total 
Assets 


Net 
Liabilities 


321.9 


237.3 


84.6 


374.3 


277.9 


96.4 


460.3 


340.5 


119.8 


541.3 


427.6 


113.7 


607.6 


484.3 


123.3 


667.9 


531.8 


136.1 


676.2 


558.5 


117.7 


698.6 


529.8 


168.8 


761.1 


551.0 


210.1 


814.3 


606.7 


207.6 


871.9 


646.2 


225.7 



CLASSIFICATION OF CANADIAN DIRECT INVESTMENTS ABROAD : 1937 



Millions of Dollars 






AS AT DECEMBER 31 










U.K. 


U.S.A. 


Merchandising 


Manufacturing 


Mining* 4 ' 


Utilities"' 


Total 


Merchandising 


Manufacturing 


Mining' 4 ' 


Utilities' 5 ' 


Total 


1.3 


6.8 


- 


5.1 


13.2 


1.6 


87.8 


26.2 


212.3 


327.9 




Other 


Total 


Merchandising 


Manufacturing 


Mining 14 ' 


Utilities' 5 ' 


Total 


Merchandising 


Manufacturing 


Mining' 4 ' 


Utilities' 5 ' 


Total 


4.9 


26.3 


99.2 


39.2 


169.7 


7.8 


120.9 


125.4 


256.6 


510.7 



(1) Direct Investments in enterprises abroad controlled by Canadian Companies or individuals. (2) Consists chiefly of portfolio investments 
of Canadian companies and individuals not included under other headings. (3) Foreign assets of Canadian insurance companies are not 
included in the foregoing tabulation, since as will be seen from this table, foreign assets (excluding Canadian assets payable in foreign 
currencies) reported to the Superintendent of Insurance are exceeded by liabilities to British and foreign policy holders etc. However, a large 
part of these investments consist of negotiable securities, the total amount of which is apt to change appreciably from time to time in a 
manner affecting the balance of payments. Hence although of a different type from other international investment, they deserve supple- 
mentary tabulation. (4) Includes petroleum and products. (5) Includes transportation and miscellaneous. 



EPTEMBER 1939 



Millions of Dollars 
450 



137 



BANK OF CANADA 

SOURCES AND DISTRIBUTION OF CASH 

MONTHLY AVERAGE OF WEDNESDAY FIGURES 



Millions of Dollars 

450 




MJJASONDJFMAMJJAS 

1938 1939 



138 



Millions of Dollars 



SEPTEMBER 1939 

I-E 









LIABILITIES 










Chartered Bank Cash 


Govt. 
Deposits 


Other 
Deposits 


Active 

B.of C. 

Note 

Circulation 


All 

Other 

Accounts 


As 

I.ial 




Notes 
in Tills 


Deposits 

at 
B. of C. 


Total 


Average of 

Wednesday Figures 

1935- 9 Mths. 


37.2 


176.5 


213.7 


23.9 


.7 


48.9 


6.8 


2S 


1936-12 Mths. 


40.4 


184.7 


225.1 


22.5 


1.0 


64.0 


9.4 


32 


1937-12 Mths. 


49.8 


191.4 


241.2 


25.8 


1.2 


90.6 


13.5 


37 


1938-12 Mths. 


56.0 


199.6 


255.6 


22.8 


2.1 


105.9 


12.5 


3J 


1938— Aug. 


55.4 


199.8 


255.2 


13.3 


1.6 


104.3 


12.9 


$ 


Sept. 


60.2 


205.5 


265.7 


21.4 


1.0 


111.5 


9.3 


4( 


Oct. 


62.0 


216.2 


278.2 


28.6 


1.4 


118.4 


9.5 


4: 


Nov. 


58.3 


219.9 


278.2 


26.6 


1.5 


116.4 


10.5 


45 


Dec. 


59.6 


204.6 


264.2 


28.4 


2.3 


115.6 


10.1 


4: 


1939— Jan. 


61.1 


210.4 


271.5 


23.6 


3.3 


107.5 


10.1 


4] 


Feb. 


53.4 


207.0 


260.4 


31.8 


3.1 


106.0 


10.4 


41 


Mar. 


52.1 


205.3 


257.4 


19.3 


4.3 


107.2 


9.1 


3! 


Apr. 


56.1 


203.7 


259.8 


20.4 


8.0 


109.4 


9.0 


4( 


May 


55.4 


206.3 


261.7 


27.1 


8.0 


110.8 


9.8 


4: 


June 


57.3 


203.8 


261.1 


30.8 


5.0 


108.2 


9.3 


4: 


July 


57.4 


203.6 


261.0 


25.0 


5.1 


111.5 


9.1 


4 


Aug. 


58.9 


203.0 


261.9 


29.5 


8.0 


115.2 


10.0 


4: 


Wednesdays 


















Sept. 6 


59.9 <2) 


195.6 


255.5 (2) 


41.5 


13.1 


128.7 (2) 


12.8 


4 


13 


59.9 (2) 


200.2 


260. 1 (2 ' 


53.0 


11.8 


133.6 (2> 


14.2 


4 


20 


66.4 (2) 


210.2 


276.6 (2) 


30.5 


9.5 


136.8 (2> 


15.3 


4 



(1) Includes "Other Securities" 



NOTE CIRCULATION : 1936-39 




SEPTEMBER 1939 

IANADA 



139 



Millions of Dollars 



ASSETS 




Reserve 








Securities 




Advances 


All 

Other 

Accounts 




Id 


Silver 


Foreign 
Currencies 


Total 
Reserve 


Reserve 
Ratio 


Dom.-Prov. 
Short 


Dom.-Prov. 
Long 


Total'" 
























Average of 
Wednesday Figures 


.6 


1.4 


10.3 


166.2 


57.87 


25.6 


94.0 


119.6 


4.1 


4.0 


1935- 9 Mths 


i.7 


1.8 


11.4 


192.9 


61.69 


37.0 


86.3 


123.2 


1.7 


4.2 


1936-12 Mths 


.0 


2.5 


20.4 


204.8 


57.11 


57.9 


98.4 


162.2 


- 


5.1 


1937-12 Mths 


.0 


.9 


28.7 


210.6 


54.50 


122.5 


53.0 


181.2 


.9 


6.3 


1938-12 Mths 


.5 


- 


26.0 


206.5 


55.17 


121.3 


52.5 


173.8 


- 


6.9 


Aug.— 1938 


.5 


- 


32.9 


214.4 


53.65 


139.8 


48.9 


188.7 


- 


5.8 


Sept. 


.4 


- 


36.2 


217.6 


51.02 


161.9 


46.1 


208.0 


4.8 


5.6 


Oct. 


.2 


- 


39.8 


220.9 


52.27 


162.2 


42.5 


204.7 


2.0 


5.6 


Nov. 


.4 


- 


40.9 


223.3 


54.40 


151.0 


40.5 


191.4 


- 


5.9 


Dec. 


.4 


_ 


31.1 


219.5 


54.09 


140.1 


41.6 


181.7 


_ 


14.7 


Jan.— 1939 


.6 


- 


42.1 


236.8 


59.01 


128.8 


39.1 


167.9 


- 


7.0 


Feb. 


.6 


- 


32.3 


233.9 


60.26 


129.8 


28.6 


158.4 


- 


5.0 


Mar. 


.6 


- 


33.2 


238.9 


60.09 


133.7 


28.5 


162.3 


- 


5.4 


Apr. 


.9 


- 


35.6 


241.5 


59.23 


122.8 


43.7 


166.5 


- 


9.5 


May 


.6 


- 


41.4 


247.0 


60.97 


110.4 


52.0 


162.5 


- 


4.9 


June 


.5 


- 


36.9 


242.4 


60.22 


111.7 


51.3 


163.0 


- 


6.3 


July 


.8 


- 


50.5 


256.2 


61.80 


110.7 


51.9 


162.6 


- 


5.9 


Aug. 

Wednesdays 


.(> 


- 


51.9 


273.4 


62.31 


117.8 


53.5 


171.3 


- 


6.9 


Sept. 6 


.4 


- 


59.6 


285.0 


62.16 


120.9 


61.5 


182.4 


- 


5.3 


13 


7 


- 


50.5 


276.1 


60.12 


129.6 


64.4 


194.0 


- 


4.5 


20 



CHARTERED BANKS : CANADIAN DEPOSITS : 1936-39 



MILLIONS Or DOLLARS 

2600 



2500 



MILLIONS Or DOLLARS 

2600 



2500 



2400 



2300 



2200 




2400 



2300 



2200 



JAN. rEB. MAR. APR. MAY JUNE JULY AUG. SEPT OCT NOV. DEC 



140 



SEPTEMBER 1939 



II— CH. 



Millions of Dollars 





LIABILITIES 






Notes 


Deposits 


Cash 

in 

Canada < J) 


Securities 




Demand 


Time 


Dom. 
and Prov. 


Canadian 
Deposits'" 


Foreign 


Total 
Deposits' 2 ' 


DOM. -PROV. 




Short 1 I.ong 


Average of 
Month-end Figures 

1926 


169 


553 


1,341 


53 


1,958 


330 


2,333 


197 


344 


1929 


17S 


696 


1,480 


102 


2,21)3 


418 


2,837 


212 


342 


1932 


132 


486 


1,376 


82 


1,955 


312 


2,322 


186 


490 


1933 


130 


489 


1,379 


62 


1,941 


308 


2,290 


195 


627 


1934 


136 


514 


1,373 


66 


1,966 


322 


2,317 


203 


684 


1935 


126 


569 


1,445 


65 


2,104 


348 


2,476 


216 


407 


454 


1936 


119 


618 


1,518 


77 


2,245 


401 


2,668 


225 


447 


628 


1937 


110 


691 


1,574 


90 


2,382 


421 


2,840 


240 


445 


674 


1938 


100 


690 


1,630 


94 


2,449 


408 


2,892 


252 


447 


696 


End of 






















1938— Aug. 


99 


687 


1,635 


96 


2,460 


400 


2,878 


257 


435 


710 


Sept. 


104 


725 


1,633 


89 


2,492 


425 


2,937 


264 


445 


684 


Oct. 


101 


749 


1,656 


75 


2,518 


419 


2,961 


286 


451 


669 


Nov. 


97 


750 


1,655 


94 


2,506 


436 


3,004 


271 


448 


693 


Dec. 


95 


734 


1,660 


106 


2,498 


420 


2,986 


257 


469 


693 


1939— Jan. 


90 


700 


1,667 


90 


2,501 


430 


2,954 


269 


464 


697 


Feb. 


94 


690 


1,691 


89 


2,514 


432 


2,974 


261 


4S1 


711 


Mar. 


97 


705 


1,700 


86 


2,538 


452 


3,021 


253 


528 


671 


Apr. 


95 


716 


1,697 


97 


2,551 


468 


3,050 


255 


511 


692 


May 


90 


684 


1,678 


162 


2,567 


484 


3,080 


260 


444 


754 


June 


97 


702 


1,680 


159 


2,591 


504 


3,126 


249 


455 


758 


July 


93 


694 


1,697 


128 


2,567 


474 


3,072 


261 


446 


761 


Aug. 


93 


705 


1,702 


117 


2,565 


501 


3,100 


259 


443 


744 



(1) Estimated month-end deposits payable in Canadian currency. (2) Includes inter-bank deposits. 

(3) Until March 1935; Gold and Coin in Canada, Dominion Notes and "Free" Central Gold Reserve Deposits; after that date: Bank of Canada Notes and Depos 



CHARTERED BANKS : CURRENT LOANS TO THE PUBLIC IN CANADA: 1937-39 

MILLIONS OF DOLLARS MILLIONS Or DOLLARS 

900f 




JAN. FEB. MAR APR 



JULY AUG. SEPT 



OCT NOV DEC 



SEPTEMBER 1939 



BANKS 



141 



ASSETS 



140 
267 
117 
102 

102 
82 
93 

107 
67 

71 
60 
66 
64 
65 

63 
60 
56 
54 

55 
52 
51 
49 



934 
1,343 
1,032 

907 

869 
829 
699 
732 
786 

781 
829 
848 
837 
806 

792 
787 
801 
814 

822 
822 
814 
826 



87 
112 
165 
147 

145 
134 
121 
117 
129 

132 
136 
137 
133 

134 

127 
133 
142 

142 

142 
135 
133 
130 



250 

301 

84 

92 

107 
72 
64 
68 
51 

55 
45 
52 
48 
51 

56 
54 
49 
44 

50 

42 
43 
42 



261 
248 
172 

148 

138 
146 
150 
165 
158 

144 
143 
142 
148 
152 

14S 
145 
144 
143 

141 
144 
145 

141 



Total 
Assets 



2,864 
3,528 
2,869 
2,831 

2,838 
2,957 
3,145 
3,317 
3,349 

3,334 
3,400 
3,424 
3,455 
3,431 

3,396 
3,421 
3,471 
3,496 

3,521 
3,575 
3,520 
3,548 









Millions of Dollars 


DAILY AVERAGE DATA 


I 


Cash 




Ratio of 


Total 






Canadian 


Cash to 


Active 




Canada' 3 ' 


Deposits* 4 ' 


Deposits in 
Canada 


Note 
Circulation" 












Average of 


192 


1,958 


9.8 


195 


Daily Figures 

1926 


191 


2,293 


8.3 


205 


1929 


172 


1,955 


8.8 


158 


1932 


189 


1,941 


9.8 


157 


1933 


201 


1,966 


10.2 


163 


1934 


213 


2,108 


10.1 


169 


1935 


225 


2,213 


10.2 


182 


1936 


240 


2,357 


10.2 


200 


1937 


254 


2,412 


10.5 


205 


1938 


254 


2,426 


10.5 


201 


Aug.— 1938 


263 


2,442 


10.8 


214 


Sept. 


277 


2,474 


11.2 


220 


Oct. 


279 


2,487 


11.2 


214 


Nov. 


261 


2,473 


10.6 


216 


Dec. 


269 


2,473 


10.9 


195 


Jan.— 1939 


260 


2,466 


10.6 


197 


Feb. 


257 


2,485 


10.3 


201 


Mar. 


258 


2,520 


10.2 


204 


Apr. 


261 


2,531 


10.3 


202 


May 


259 


2,537 


10.2 


202 


June 


259 


2,543 


10.2 


204 


July 


261 


2,532 


10.3 


207 


Aug. 



'S^SSiSS^SST^ t^^^to^n^ £SJS£ 1926 " 35 Md m ° nt " ly ™™<* C ™ d ™ d ^ I- »36 and after. 



CHARTERED BANKS: HOLDINGS OF DOM. AND PROV. SECURITIES: 1937-39 

MILLIONS OF DOLLARS 

ioc/V . , MILLIONS OF DOLLARS 

— 11250 



1200 




142 



SEPTEMBER 1939 



III 



SECURITY PRICES 

Bank of Canada 









Dominion of Canada Bonds Payable in Canada Only 














Middle Prices 


and Yields 








Average of 






















Business Days 


3J4% due June 1, 


3% due 


[une 1, 


3X% due 


June 1, 


5% due Oct. 15, 


2% due 


Tune 1, 




1956 


-66 


1950 


-55 


1946 


-49 


1943 


1942 




Price 


Yield 


Price 


Yield 


Price 


Yield 


Price 


Yield 


Price 


Yield 


1938 


100.41 


3.22 


99.01 


3.08 


102.73 


2.86 


113.51 


2.27 


101.38 


1.63 


1938— Aug. 


100.63 


3.20 


99.21 


3.06 


102.94 


2.83 


113.46 


2.23 


101.53 


1.58 


Sept. 


99.02 


3.30 


97.96 


3.16 


101.59 


3.02 


112.34 


2.41 


100.83 


1.77 


Oct. 


100.24 


3.23 


98.89 


3.09 


102.30 


2.91 


112.62 


2.31 


101.14 


1.68 


Nov. 


101.39 


3.15 


99.75 


3.02 


103.25 


2.77 


113.66 


2.06 


101.94 


1.44 


Dec. 


101.94 


3.10 


99.80 


3.02 


103.44 


2.74 


113.48 


2.06 


101.90 


1.44 


1939— Jan. 


101.99 


3.10 


99.72 


3.02 


103.70 


2.69 


112.97 


2.12 


101.67 


1.49 


Feb. 


102.44 


3.07 


99.94 


3.01 


103.85 


2.67 


112.85 


2.09 


101.49 


1.53 


Mar. 


102.46 


3.07 


100.48 


2.95 


104.02 


2.63 


112.80 


2.06 


101.61 


1.48 


Apr. 


101.53 


3.13 


100.08 


2.99 


103.10 


2.77 


112.00 


2.19 


101.22 


1.61 


May 


101.33 


3.15 


99.47 


3.04 


102.88 


2.80 


111.62 


2.22 


101.07 


1.64 


June 


102.24 


3.08 


100.40 


2.96 


104.38 


2.56 


111.94 


2.10 


101.23 


1.57 


July 


102.12 


3.09 


100.35 


2.96 


104.48 


2.54 


111.90 


2.06 


101.27 


1.55 


Aug. 


101.09 


3.17 


99.21 


3.06 


102.96 


2.77 


111.08 


2.20 


100.90 


1.67 


Sept. ( " 


94.36 


3.58 


92.69 


3.61 


96.82 


3.64 


107.58 


3.01 


99.04 


2.37 



(1) Average Sept. 1-25. 



YIELDS OF DOMINION GOVERNMENT BONDS : 1938-39 

PAYABLE IN CANADA ONLY 




2 5% 



3 0% 



3 r j% 



♦Average rate of successful tenders for new offerings. (1) Sept. 15. (2) Sept. 25 



SEPTEMBER 1939 



143 



III— SECURITY PRICES 

Bank of Canada 





Government Bonds Payable Elsewhere Than in Canada 

Middle Prices and Yields 




U.S. Treasury* 


United K 


ngdom* 


Dominion 


of Canada 


* 


Domin 


on Guaranteed C.N.R.* 


Average of 
Business Days 


2#%dueMar.l5, 

1955-60 


2%%dueJunel5. 
1952-57 


3^% due Jan 15, 
1956-61 


3Ji% due May 1, 
1950-55 


43^% due Feb. 1, 
1956 


4)4% due July 1, 
1957 




Domestic 


Domestic 


Payable in 
New York only 


Payable in 
London only 


Payable in Canada, 
New York or London 


Payable in 
Canada or New York 




Price 


Yield 


Price"' 


Yidd m 


Price 


Yield 


Price'" 


Yield™ 


Price"' 


Yield 


v, ■ (2) 
Price 


Yield 


1938 

1938-Aug. 
Sept. 
Oct. 
Nov. 
Dec. 

1939-Jan. 
Feb. 
Mar. 
Apr. 

May 
June 
July 
Aug. 
Sept. (3) 


103.51 

104.19 
103.26 
104.44 
104.17 
104.36 

104.74 
105.15 
106.47 
107.15 

108.70 
109.52 
109.49 
108.67 
103.02 


2.61 

2.56 
2.63 
2.54 
2.56 
2.55 

2.52 
2.48 
2.39 
2.34 

2.22 
2.16 
2.16 
2.21 
2.64 


95.35 

96.70 
94.37 
94.02 
93.73 
92.86 

91.66 
91.83 
91.76 
88.34 

90.76 
91.99 
90.25 
89.46 
87.82 


3.08 

2.98 
3.15 
3.16 
3.20 
3.27 

3.36 
3.35 
3.36 
3.63 

3.44 
3.35 
3.49 
3.55 
3.69 


102.37 

103.48 
102.39 
102.85 
103.47 
103.53 

104.01 
104.04 
103.43 
102.64 

103.91 
104.88 

105.28 
103.70 

84.33 


3.07 

2.99 
3.07 
3.04 
2.99 
2.99 

2.95 
2.95 
2.99 
3.05 

2.96 
2.88 
2.85 
2.96 
4.39 


100.06 

100.98 
98.62 
99.82 
99.78 
99.45 

99.60 
98.60 
98.47 
97.39 

98.89 
98.57 
97.51 
96.77 
94.80 


3.24 

3.15 
3.36 
3.27 
3.27 
3.29 

3.28 
3.36 
3.37 
3.46 

3.34 
3.37 
3.46 
3.52 
3.69 


115.63 

116.05 
114.31 
115.61 
116.40 
116.07 

116.24 
116.35 
116.52 
115.52 

115.56 

116.76 
116.85 
115.34 
108.44 


3.32 

3.29 
3.40 
3.31 
3.25 
3.27 

3.25 
3.24 
3.22 
3.29 

3.28 
3.19 
3.18 
3.29 
3.80 


115.13 

115.51 
113.84 
115.30 
116.46 
116.35 

116.37 
116.43 
116.46 
115.49 

115.63 

116.87 
116.89 
115.38 
108.61 


3.41 

3.38 
3.49 
3.39 
3.31 
3.31 

3.31 
3.30 
3.30 
3.36 

3.34 
3.26 
3.25 
3.35 
3.83 



♦Differing coupon rates and maturity provisions, and the fact that the U.S. Treasury issue is exempt from "normal" income tax, vitiate any direct 
comparison of absolute yield levels. (1) These issues are quoted in London to include accrued interest but are given here excluding interest. (2) Price in 
Toronto in Canadian funds. (3) Average Sept. 1 - 25. 



LONG TERM DOMESTIC GOVERNMENT BOND YIELDS : CANADA, U.K., & U.S.A. : 1938-39 



250% 



3 25% 



250% 




144 



SEPTEMBER 1939 



IV— STOCK EXCHANGE STATISTICS 
MONTREAL AND TORONTO STOCK EXCHANGES 

Stock Exchange Bulletins 





Member Borrowings 
on Canadian Collateral 


Market Value of 
All Listed Stocks 


Common Stock Price Indexes 


Value of Shares 
Traded during Month 




Montreal Stock 
Exchange 


Toronto Stock 
Exchange 




Millions of Dollars 


Millions 


of Dollars 


1926 


= 100 


July-Dec. 


1933 = 100 


Millions 


of Dollars 




Montreal 


in 

Toronto 


Total 


Montreal 


Toronto 


20 
Industrials 


10 
Utilities 


20 
Golds 


10 

BaseMetals 


(l) 

Montreal 


Toronto 


m 
1936-Low 


16.1 


21.8 


39.7 


4,711 


4,713 


70 


67 


116 


67 


* 


39 


High 


33.4 


40.2 


73.6 


6,158 


5,912 


109 


86 


156 


115 


* 


90 


1937-Low 


17.5 


27.8 


45.3 


4,780 


4,565 


66 


65 


96 


64 


20 


26 


High 


43.8 


46.7 


86.1 


6,743 


6,458 


122 


93 


169 


137 


94 


96 


(2) 

1938-Low 


13.4 


20.3 


33.7 


4,263 


4,086 


61 


60 


103 


64 


15 


26 


High 


17.1 


27.8 


44.9 


5,376 


5,069 


88 


69 


120 


101 


32 


49 


Month-end. 
























1938-Aug. 


16.3 


25.4 


41.8 


5,022 


4,782 


80 


66 


122 


89 


23 


38 


Sept. 


13.4 


20.3 


33.7 


4,995 


4,852 


80 


64 


120 


91 


29 


40 


Oct. 


14.5 


21.4 


35.9 


5,376 


5,069 


85 


67 


122 


101 


31 


49 


Nov. 


15.0 


22.4 


37.4 


5,252 


4,984 


82 


65 


122 


100 


25 


38 


Dec. 


15.5 


23.3 


38.8 


5,322 


5,044 


85 


64 


126 


101 


20 


28 


1939- J an. 


13.9 


21.6 


35.5 


5,101 


4,854 


79 


63 


124 


95 


22 


34 


Feb. 


13.3 


20.9 


34.2 


5,200 


4,927 


79 


66 


126 


96 


15 


23 


Mar. 


12.8 


16.7 


29.5 


4,794 


4,556 


70 


64 


116 


86 


25 


30 


Apr. 


10.7 


15.4 


26.1 


4,750 


4,547 


69 


64 


113 


84 


17 


24 


May 


10.9 


15.7 


26.6 


4,881 


4,704 


73 


66 


122 


88 


14 


17 


June 


10.2 


15.7 


25.9 


4,640 


4,457 


68 


65 


116 


84 


12 


19 


July 


9.8 


15.8 


25.6 


4,906 


4,676 


74 


67 


122 


90 


12 


16 


Aug. 


9.8 


14.4 


24.2 


4,555 


4,345 


66 


63 


110 


83 


13 


22 



(1) Including Curb Market. (2) Monthly figures except in thee 



Stock Prices where daily figures were used. *Not available. 



COMMON STOCK PRICE INDEXES : 1939 




JAN. IbB. MAR APR. MAY JUNE JULY 

1939 
(1) Toronto Stock Exchange, July-Dec 1"33= 100. (2) Montreal Stock Exchange, 1926= 100. t Sept. 25. 



SEPTEMBER 1939 



145 



CANADA 

Dominion Bureau oj Statistics 



WHOLESALE PRICE INDEXES 

1926 = 100 

U.K. 

Board of Trade™ 



U.S.A. 

Bureau of Labour 







Raw 










Products 


Materials 


Foods 


factures 




Average of Mths. 












1926 


100.0 


100.0 


100.0 


100.0 


100.0 


1929 


100.8 


97.5 


100.0 


93.0 


95.6 


1932 


48.4 


55.0 


61.5 


69.8 


66.7 


1933 


51.0 


56.6 


63.8 


70.2 


67.1 


1934 


59.0 


63.5 


69.7 


73.4 


71.6 


1935 


63.5 


66.0 


70.4 


72.8 


72.1 


1936 


69.4 


70.8 


73.4 


73.6 


74.6 


1937 


87.0 


84.2 


81.2 


80.4 


84.5 


1938 


73.6 


72.7 


77.1 


78.2 


78.6 


Monthly 












1938-Aug. 


64.2 


67.5 


75.8 


77.0 


76.0 


Sept. 


63.8 


65.6 


74.3 


75.6 


74.5 


Oct. 


63.8 


65.1 


73.0 


74.8 


74.1 


Nov. 


64.9 


64.6 


72.0 


74.0 


73.5 


Dec. 


64.6 


64.9 


75.0 


73.6 


73.3 


1939-Jan. 


64.8 


64.8 


71.7 


73.5 


73.3 


Feb. 


64.7 


64.9 


71.9 


73.6 


73.2 


Mar. 


65.1 


65.1 


72.2 


73.2 


73.2 


Apr. 


65.5 


65.5 


72.3 


73.3 


73.4 


Mav 


65.2 


66.5 


72.2 


73.2 


73.7 


June 


63.3 


65.0 


71.9 


73.1 


73.3 


July 


62.7 


63.1 


71.5 


73.0 


72.6 


Aug. 


58.4 


62.8 


70.1 


72.8 


72.4 



Foods 


Total 


100.0 


100.0 


93.9 


92.1 


71.8 


69.1 


67.8 


69.2 


69.5 


71.1 


71.0 


71.8 


75.0 


76.2 


83.7 


87.8 


79.7 


81.9 


77.5 


80.3 


75.2 


79.4 


75.7 


80.0 


74.1 


79.4 


75.1 


79.3 


75.7 


78.4 


74.5 


78.1 


73.7 


78.0 


74.8 


78.4 


75.2 


78.9 


75.2 


79.2 


74.6 


79.2 


73.9 


79.2 





Raw 








Products 


Materials 


Foods 


factures 


Total 


100.0 


100.0 


100.0 


100.0 


100.0 


104.9 


97.5 


99.9 


94.5 


95.3 


48.2 


55.1 


61.0 


70.3 


64.8 


51.4 


56.5 


60.5 


70.5 


65.9 


65.3 


68.6 


70.5 


78.2 


74.9 


78.8 


77.1 


83.7 


82.2 


80.0 


80.9 


79.9 


82.1 


82.0 


80.8 


86.4 


84.8 


85.5 


87.2 


86.3 


68.5 


72.0 


73.6 


82.2 


78.6 


67.3 


71.4 


73.0 


81.8 


78.1 


68.1 


72.0 


74.5 


81.8 


78.3 


66.8 


70.9 


73.5 


81.1 


77.6 


67.8 


71.5 


74.1 


80.5 


77.5 


67.6 


70.9 


73.1 


80.2 


77.0 


67.2 


70.9 


71.5 


80.0 


76.9 


67.2 


70.9 


71.5 


80.2 


76.9 


65.8 


70.1 


70.2 


80.2 


76.7 


63.7 


68.5 


68.6 


80.1 


76.2 


63.7 


68.9 


68.2 


79.9 


76.2 


62.4 


67.7 


67.6 


79.6 


75.6 


62.6 


67.8 


67.5 


79.2 


75.4 


61.0 


66.5 


67.2 


79.1 


75.0 



INDUSTRIAL MATERIAL PRICE INDEXES : 1938-39 




( 1) Spruce lur. 
crude oil, coal 
manila hemp, 



1938 1939 

iber, fir lumber, pulp (unbleached sulphite), pulp (bleached sulphite), iron ore, scrap iron, structural shapes, merchant 
, and white lead. (2) Wheat, oats, sugar, steers and hogs. (3) Rubber, linseed oil, cottonseed oil, rosin, beef hides, 
lead, zinc, copper and tin ingots. 



146 



SEPTEMBER 1939 



VI— INTEREST AND DIVIDENDS PAID ON FOREIGN INVESTMENTS IN CANADA 
INTEREST AND DIVIDENDS RECEIVED ON CANADIAN INVESTMENTS ABROAD : 1926-37 



Millions of Dollars 



Dominion Bureau of Statistics I 











Canadian 


[NTERESl 


Payments Abroad 








Calendar 
Years 


Dominion 
(incl. C.N.R. Gtd. 
by Dom. or Prov.) 


Pro\ 


INCIAL 


Municipal 


Corporations 
(excl. Gtd. C.N.R.) 


TOTAL 


Total 
Other 
Than 
U.K. and 
U.SA. 


Grand 




U.K. 


U.S.A. 


U.K. 


U.S.A. 


U.K. 


U.S.A. 


U.K. 


U.S.A. 


U.K. 


U.S.A. 




1926 


* 


* 


* 


* 


* 


* 


* 


* 


62.0 


82.4 


.0 


145.0 


1927 


2.3.2 


30.6 


2.9 


17.7 


8.0 


9.5 


26.4 


30.4 


62.5 


88.2 


.6 


151.3 


1928 


24.8 


31.0 


2.7 


18.9 


8.0 


10.3 


26.] 


36.4 


61.6 


96.6 


.7 


158.9 


1929 


24.7 


32.8 


3.3 


19.9 


8.1 


10.5 


25.8 


38.1 


61.9 


101.3 


.6 


163.8 


1930 


23.7 


33.5 


2.9 


22.7 


8.0 


11.4 


25.8 


42.3 


60.4 


109.9 


.8 


171.1 


1931 


23.5 


39.0 


2.8 


24.7 


7.7 


12.5 


24.2 


44.9 


58.2 


121.1 


.8 


180.1 


1932 


23.4 


38.3 


3.1 


24.7 


7.0 


12.7 


23.5 


37.8 


57.0 


113.5 


.7 


171.2 


1933 


23.1 


41.2 


3.3 


24.5 


6.3 


12.3 


22.4 


34.6 


55.1 


112.6 


.6 


168.3 


1934 


2.5.6 


40.1 


3.1 


23.3 


6.0 


11.9 


22.0 


34.4 


56.7 


109.7 


.6 


167.0 


1935 


26.0 


31.0 


3.0 


22.8 


6.1 


11.6 


20.6 


33.7 


55.7 


99.1 


.8 


155.6 


1936 


25.9 


31.3 


2.9 


21.7 


6.0 


11.2 


20.7 


34.5 


55.5 


98.7 


.7 


154.9 


1937f 


25.8 


30.6 


2.9 


21.2 


6.0 


10.6 


20.3 


31.9 


55.0 


94.3 


• 7 


150.0 



Millions of Dollars 



Calendar 


Canadian Dividend Payments 
Abroad 


Canadian 

Interest and Dividend Receipts 

from Abroad 


Net Interest and Dividend 
Receipts or Payments 




U.K. 


U.S.A. 


Other 


Total 


U.K. 


U.S.A. 


Other 


Total 


U.K. 


U.S.A. 


Other 


Total 


1926 


35.0 


56.0 


4.0 


95.0 


.3 


12.3 


17.9 


30.5 


96.7 


126.1 


13.3 


209.5 


1927 


38.5 


63.0 


4.5 


106.0 


.3 


16.3 


22.6 


39.2 


100.7 


134.9 


17.5 


218.1 


1928 


38.0 


72.0 


5.0 


115.0 


.5 


20.3 


26.6 


47.4 


99.1 


148.3 


20.9 


226.5 


1929 


51.0 


101.0 


6.0 


158.0 


.4 


29.5 


31.8 


61.7 


112.5 


172.8 


25.2 


260.1 


1930 


55.0 


115.0 


7.0 


177.0 


.4 


27.5 


31.6 


59.5 


115.0 


197.4 


23.8 


288.6 


1931 


44.0 


100.0 


6.0 


150.0 


.3 


22.7 


27.3 


50.3 


101.9 


198.4 


20.5 


279.8 


1932 


34.0 


91.0 


5.0 


130.0 


.3 


16.2 


22.9 


39.4 


90.7 


188,3 


17.2 


261.8 


1933 


17.0 


75.0 


3.0 


95.0 


.3 


15.2 


23.5 


39.0 


71.8 


172.4 


19.9 


224.3 


1934 


18.0 


79.0 


3.0 


100.0 


.4 


17.5 


37.5 


55.4 


74.3 


171.2 


33.9 


211.6 


1935 


20.5 


91.0 


3.5 


115.0 


.5 


19.5 


42.0 


62.0 


75.7 


170.6 


37.7 


208.6 


1936 


28.2 


122.9 


4.0 


155.1 


.5 


29.5 


46.2 


76.2 


83.2 


192.1 


41.5 


233.8 


1937f 


33.3 


136.7 


5.0 


175.0 


.3 


30.8 


47.7 


78.8 


88.0 


200.2 


42.0 


246.2 



J Compiled from; "The Canadian Balance of International Payments, A Study of Methods and Results" (1939). * Not avail 



t Subject to final revision. 



SEPTEMBER 1939 



147 



Cents per unit 



VII— FOREIGN EXCHANGE RATES 

Federal Reserve Bulletin, Bank of England and Bank of Canada (l) 



Average of 
Business Days 


Sterling in 
Canada 


U.S. Dolla 
in Canada 




Can. Dollar 
in New York 


Sterling in 
New York 


U.S. Dollar 
in London 


(i) 


Percentage 
Premium or 
Discount (3) 


(i) 


Percentage 
Premium or 
Discount (3) 


(i) 


Percentage 
Premium or 
Discount (3) 


to 


Percentage 
Premium or 
Discount (3) 


$per£ 

(2) 


Percentage 
Premium or 
Discount (3) 


1928 


487.06 


+ .08 


100.09 


+ 


.09 


99.91 


- .09 


486.62 


- .01 


486.6 


+ .01 


1932 


398.02 


-18.21 


113.52 


+13.52 


88.09 


-11.91 


350.61 


-27.96 


350.4 


+38.89 


1935 


492.68 


+ 1.24 


100.51 


+ 


.51 


99.49 


- .51 


490.18 


+ .72 


490.3 


- .74 


1936 


497.45 


+ 2.22 


100.06 


+ 


.06 


99.91 


- .09 


497.09 


+ 2.14 


497.1 


- 2.10 


1937 


494.37 


+ 1.59 


99.99 


- 


.01 


100.00 


- 


494.40 


+ 1.59 


494.4 


- 1.57 


1938 


491.62 


+ 1.02 


100.56 


+ 


.56 


99.42 


- .58 


488.94 


+ .47 


489.0 


- .48 


1939-Jan.toAug. 


469.18 


- 3.59 


100.42 


+ 


.42 


99.56 


- .44 


467.21 


- 4.00 


467.3 


+ 4.14 


Monthly 

1939— Jan. 


470.60 


- 3.30 


100.79 


+ 


.78 


99.19 


- .81 


466.94 


- 4.05 


466.9 


+ 4.23 


Feb. 


470.86 


- 3.25 


100.49 


+ 


.49 


99.50 


- .50 


468.57 


- 3.72 


468.6 


+ 3.85 


Mar. 


470.44 


- 3.33 


100.41 


+ 


.41 


99.58 


- .42 


468.54 


- 3.72 


468.6 


+ 3.85 


Apr. 


470.38 


- 3.34 


100.50 


+ 


.50 


99.48 


- .52 


468.05 


- 3.82 


468.1 


+ 3.96 


May- 


469.81 


- 3.46 


100.36 


+ 


.36 


99.62 


- .38 


468.13 


- 3.81 


468.2 


+ 3.94 


June 


469.23 


- 3.58 


100.21 


+ 


.21 


99.77 


- .23 


468.24 


- 3.78 


468.3 


+ 3.92 


July 


468.85 


- 3.66 


100.15 


+ 


.15 


99.84 


- .16 


468.15 


- 3.80 


468.2 


+ 3.94 


Aug. 


463.27 


- 4.81 


100.47 


+ 


.47 


99.49 


- .51 


461.07 


- 5.26 


461.1 


+ 5.54 


Sept.' 4 ' 


439.30 


- 9.73 


109.08 


+ 9.08 


91.51 


- 8.49 


399.02 


-18.01 


405.5 


+20.01 



(1) Sterling and U.S. Dollars in Canada in 1936 and after are noon middle rates, other rates noted thus are based 
Bank of England. (3) Based on pre-1931 pars of $4.86656 and $1.00 respectively. (4) Sept. 1-22. 



buying rate in New York. (2) Source: 



Millions of Kilowatt Hours 



VIII— CENTRAL ELECTRIC STATIONS 

Dominion Bureau of Statistics and Bank of Canada 





Output of Central Electric Stations 


Exports 


Deliveries 

to 

Electric 

Boilers 


Losses 
(Estimated) 


Firm 


Daily Average 


Generated 
by 

Water 


Generated 

by 
Fuel 


Total 


Consump- 
tion 
(Estimated) 


1926 


32.6 


.5 


33.1 


4.1 


2.7 


4.4 


22.0 


1929 


48.5 


.7 


49.2 


4.0 


5.9 


6.8 


32.5 


1932 


43.0 


.9 


43.9 


1.8 


7.8 


6.3 


28.0 


1935 


63.1 


1.1 


64.1 


3.7 


17.1 


9.1 


34.2 


1936 


68.2 


1.2 


69.4 


4.3 


19.0 


9.8 


36.3 


1937 


74.2 


1.4 


75.6 


5.1 


20.0 


10.6 


39.9 


1938 


70.0 


1.2 


71.2 


5.0 


15.9 


9.9 


40.4 


12 Months Ending 
















Aug.— 1939 


74.0 


1.3 


75.3 


5.3 


17.5 


10.8 


41.6 


Monthly 
















1938— May 


66.1 


1.1 


67.2 


5.0 


13.7 


9.3 


39.2 


June 


64.7 


1.1 


65.8 


5.3 


11.9 


9.1 


39.5 


July 


63.0 


1.1 


64.1 


5.1 


11.6 


8.8 


38.5 


Aug. 


65.6 


1.3 


66.8 


4.8 


13.2 


9.3 


39.5 


1939— May 


74.1 


1.1 


75.3 


5.3 


17.6 


11.3 


41.1 


June 


73.6 


1.2 


74.8 


5.4 


16.5 


11.2 


41.6 


July 


69.9 


1.2 


71.1 


5.3 


14.7 


10.7 


40.5 


Aug. 


72.7 


1.3 


73.9 


5.7 


15.3 


11.1 


41.8 



148 



SEPTEMBER 1939 



IX— INDUSTRIAL ACTIVITY 

Dominion Bureau of Statistics 





Physical 
Volume of 

Business 

Index 
Seasonally 

adjusted 

1926 = 100 


PRODUCTION 


Con- 
struction 
Contracts 
Awarded 


Car 

Loadings 


Employ- 




Gold 


Copper 


Steel 


Auto- 
mobiles 
& Trucks 


News- 
print 


Central 
Electric 
Stations 


Index 1 " 

Seasonally 
adjusted 

1036 = 100 




Thousands 
Fine Ounces 


Thousands 
Short Tons 


Thousands 
Long Tons 


Thousands 


Thousands 
Short Tons 


Millions 
Kilowatt Hrs. 


Millions 
of Dollars 


Thousands 


Annual TotalsG) 






















1926 


100.0 


1,754 


67.0 


776 


205.0 


1,889 


11,926 


372.9 


3,253 


100.0 


1929 


125.5 


1,928 


124.1 


1,378 


262.6 


2,725 


17,633 


576.7 


3,524 


119.2 


1932 


78.7 


3,044 


123.8 


339 


60.8 


1,919 


15,863 


132.9 


2,176 


86.4 


1933 


79.7 


2,949 


150.0 


410 


65.9 


2,022 


17,553 


97.3 


2,032 


84.2 


1934 


94.2 


2,972 


182.4 


758 


116.9 


2,605 


21,160 


125.8 


2,321 


96.4 


1935 


102.4 


3,285 


209.5 


942 


172.9 


2,765 


23,404 


160.3 


2,358 


99.8 


1936 


112.2 


3,748 


210.5 


1,116 


162.2 


3,225 


25,934 


162.6 


2,494 


104.0 


1937 


122.7 


4,096 


265.0 


1,403 


207.5 


3,674 


27,584 


224.1 


2,635 


114.1 


1938 


112.9 


4,716 


293.7 


1,156 


166.1 


2,625 


25,994 


187.3 


2,429 


111.4 


Monthly Totals 






















1938-Apr. 


112.4 


368.4 


23.9 


116.4 


18.8 


200.8 


2,064 


15.0 


184.7 


111.5 


May 


110.7 


381.1 


24.2 


114.9 


18.1 


207.7 


2,082 


18.6 


190.2 


111.9 


June 


108.4 


390.7 


24.2 


109.4 


14.7 


201.7 


1,973 


20.9 


187.5 


111.3 


July 


109.1 


420.8 


24.8 


83.9 


9.0 


202.6 


1,988 


21.2 


182.6 


109.1 


Aug. 


109.2 


412.1 


24.7 


82.8 


6.5 


220.3 


2,072 


22.1 


213.1 


111.0 


1939-Apr. 


118.6 


406.8 


24.4 


99.8 


16.9 


220.8 


2,197 


12.3 


179.0 


110.3 


May 


121.4 


432.4 


27.2 


121.4 


15.7 


250.0 


2,333 


18.4 


214.5 


113.1 


June 


121.4 


436.8 


27.3 


107.9 


14.5 


240.5 


2,245 


25.2 


194.5 


113.6 


July 


120.5 


440.1 


25.1 


111.1 


9.1 


227.6 


2,205 


22.1 


196.4 


114.3 


Aug. 


126. F' 






122.0 


3.5 


237.0 


2,291 


25.8 


229.0 


114.9 



(1) As at end of month. (2) Average of months in case of Physical Volume of Business and Employment Indexes. (3) Preliminary. 



PRODUCTION OF STEEL INGOTS AND CASTINGS : 1926-39 

THOUSANDS Or LONG TONS THOUSANDS OF LONG TONS 



1500 



1200 




1926 1927 1928 1929 1930 1931 1932 1933 



935 1936 1937 1936 1939 



EPTEMBER 1939 



149 



Millions of Dollars 



X— CONSTRUCTION CONTRACTS AWARDED 

Compiled from MacLean Building Reports Limited 





Private Contracts 


Public 
Contracts 


Total 
Con- 


Distribution by Areas 
























Resi- 
dential 


Industrial 


Business 


Engin- 
eering 


Total 
Private 


Awarded 


tracts 


Maritime 


Quebec 


Ontario 


Western 


Annual Totals 
























1926 


109.6 


79.7 


84.3 


25.0 


298.5 


74.4 


372.9 


8.4 


151.9 


141.9 


70.7 


1929 


128.9 


63.0 


139.6 


99.4 


431.0 


145.7 


576.7 


20.2 


187.8 


215.8 


152.9 


1932 


28.9 


7.8 


20.5 


15.6 


72.8 


60.0 


132.9 


9.3 


52.6 


49.3 


21.7 


1933 


23.9 


9.1 


16.3 


9.0 


58.2 


39.1 


97.3 


7.2 


32.5 


42.6 


15.0 


1934 


30.6 


8.0 


19.3 


13.1 


71.1 


54.7 


125.8 


10.0 


34.1 


63.4 


18.3 


1935 


36.4 


10.3 


19.8 


22.1 


88.6 


71.7 


160.3 


14.4 


44.5 


70.9 


30.6 


1936 


42.9 


15.0 


24.3 


30.0 


112.1 


50.5 


162.6 


17.9 


45.7 


72.4 


26.5 


1937 


56.2 


33.8 


33.4 


28.0 


151.4 


72.6 


224.1 


21.6 


71.9 


97.8 


32.8 


1938 


55.0 


16.0 


32.1 


23.2 


126.3 


61.0 


187.3 


19.5 


65.8 


73.1 


28.9 


12 Months Ending 
























Aug. 1939 


66.5 


19.6 


32.8 


9.4 


128.3 


66.3 


194.6 


16.9 


70.3 


80.4 


27.1 


Monthly Totals 
























1938-Mar. 


2.1 


.3 


2.9 


2.5 


7.8 


2.5 


10.4 


1.2 


2.8 


3.8 


2.7 


Apr. 


5.2 


2.2 


2.0 


2.2 


11.6 


3.4 


15.0 


1.3 


4.2 


6.5 


3.0 


May 


7.7 


1.4 


3.5 


1.7 


14.3 


4.3 


18.6 


2.2 


8.0 


6.2 


2.3 


June 


6.2 


3.3 


3.4 


1.7 


14.6 


6.4 


20.9 


4.1 


5.5 


9.3 


2.0 


July 


5.8 


2.0 


2.9 


3.3 


14.0 


7.2 


21.2 


2.2 


8.7 


6.7 


3.5 


Aug. 


5.3 


1.0 


3.1 


1.8 


11.2 


11.0 


22.1 


2.0 


6.8 


9.9 


3.4 


1939-Mar. 


3.7 


.9 


1.8 


.2 


6.6 


2.4 


9.0 


.4 


3.7 


3.4 


1.5 


Apr. 


5.8 


1.0 


2.7 


.1 


9.6 


2.7 


12.3 


.9 


3.6 


5.8 


1.9 


May 


7.3 


4.5 


3.4 


- 


15.2 


3.2 


18.4 


1.3 


4.3 


10.9 


2.0 


June 


7.9 


4.6 


3.5 


.4 


16.4 


8.8 


25.2 


1.3 


9.3 


12.5 


2.1 


July 


7.7 


1.8 


4.0 


.1 


13.6 


8.6 


22.1 


4.6 


6.8 


7.2 


3.6 


Aug. 


7.1 


1.2 


3.0 


.1 


11.4 


14.5 


25.8 


2.2 


10.1 


9.7 


3.8 



PRIVATE CONSTRUCTION CONTRACTS AWARDED : 1937-39 
PERCENTAGE INCREASE (+) OR DECREASE (-) FROM SAME QUARTER OF PREVIOUS YEAR 



60% 




150 



SEPTEMBER 1939 



Millions of Dollars 



XI— EXTERNAL TRADE : MERCHANDISE IMPORTS 
VALUE BY CHIEF COMMODITY CLASSIFICATIONS 

Compiled from Trade of Canada, Dominion Bureau of Statistics 





Fruits, 


Sugar 


Rubber 


Petroleum 


Coal and 


Textiles 


Iron 


Machinery 


Non- 


Chemical 


All 


Total 




Nuts and 


and 


and 


Asphalt 


Coke 


and 


and 


and 


ferrous 


Merchandise 




Vegetables 


Products 


Products 


and 
Products 


Products 


Fibres 


Steel 


Vehicles 


Metal 
Products 


Products 


Other 


Imports (l) 


Calendar Year Totals 


























1926 


40 


38 


30 


53 


67 


184 


95 


125 


51 


31 


294 


1,008 


1929 


50 


28 


23 


78 


64 


199 


134 


208 


91 


40 


385 


1,299 


1932 


27 


17 


4 


43 


35 


69 


29 


38 


22 


28 


141 


453 


1933 


22 


16 


5 


31 


31 


70 


29 


32 


18 


24 


124 


401 


1934 


26 


17 


10 


41 


40 


84 


42 


52 


26 


28 


147 


513 


1935 


28 


19 


10 


44 


38 


85 


50 


62 


34 


30 


152 


550 


1936 


33 


21 


12 


50 


40 


99 


55 


80 


35 


32 


178 


635 


1937 


36 


21 


19 


59 


42 


115 


86 


125 


47 


37 


221 


809 


1938 


30 


21 


11 


56 


39 


87 


58 


105 


38 


35 


197 


677 


12 Months Ending 


























July 1939 (3) 


31 


21 


13 


52 


41 


89 


55 


100 


36 


37 


190 


665 


Monthly Totals 


























1938-Mar. 


2.5 


.8 


1.0 


2.8 


3.3 


9.8 


5.1 


12.4 


3.8 


3.0 


20.6 


65.1 


Apr. 


2.3 


.9 


.6 


2.5 


1.9 


6.2 


4.2 


10.0 


2.9 


2.4 


15.0 


48.9 


May 


3.4 


3.1 


1.4 


6.6 


3.5 


6.9 


6.0 


11.2 


3.6 


3.3 


18.3 


67.1 


June 


3.6 


2.4 


1.2 


6.7 


3.0 


6.1 


4.6 


8.8 


3.3 


2.7 


16.7 


58.9 


July 


2.9 


2.2 


1.0 


6.9 


3.3 


6.7 


4.9 


7.4 


3.4 


2.7 


14.6 


55.8 


Aug. 


2.0 


2.3 


.8 


6.0 


3.2 


7.0 


5.3 


8.5 


2.8 


2.9 


16.2 


57.0 


1939-Mar. 


2.7 


.8 


1.2 


2.8 


3.4 


9.3 


4.0 


11.2 


3.4 


2.8 


16.9 


58.4 


Apr. 


2.0 


1.2 


.8 


2.1 


1.8 


5.2 


3.0 


8.5 


2.3 


2.2 


12.8 


41.9 


May 


3.9 


3.4 


1.5 


5.3 


4.9 


9.4 


5.3 


11.6 


3.5 


4.4 


19.9 


73.0 


June 


4.9 


2.5 


1.2 


6.3 


3.0 


7.7 


5.8 


8.7 


3.5 


3.4 


16.8 


63.7 


July 


2.6 


1.8 


1.4 


5.4 


3.3 


7.7 


5.5 


7.8 


3.7 


3.5 


15.9 


58.6 


Aug. (3) 


* 


* 


* 


* 


* 


* 


* 


* 


* 


* 


* 


* 



(1) Includes imports destined for re-export. (2) 12-months ending April 1939. (J) Preliminary. 



Not yet available. 



MILLIONS Or DOLLARS 

90 



MERCHANDISE IMPORTS : 1937-39 

(RETAINED IMPORTS EXCLUDING GOLD) 



MILLIONS OF DOLLARS 

90 




JAN. FEB. MAR. APR. MAY JUNE JULY AUG SEPT OCT NOV DEC. 



EPTEMBER 1939 



151 



XI 



EXTERNAL TRADE : MERCHANDISE EXPORTS 
VALUE BY CHIEF COMMODITY CLASSIFICATIONS 



Millions of Dollars 


























Grains 


Cattle. 


Butter 


Furs, 
Skins and 


Lumber 


Paper, 
Wood Pulp 


Non-ferrous 
Metals 


Machinery 
and 


All 


Total Mdse. 
Exports 


Non- 






Flour 


and Fish 


Cheese 


Raw 
Leather 


Shingles 


Pulpwood 


other than 
Gold 


Vehicles 




excluding 
Gold (0 


Gold 

(2) 




Calendar Year Totals 


























1926 


474 


81 


28 


34 


71 


188 


75 


60 


251 


1,261 


30 


1,292 


1929 


322 


65 


19 


38 


56 


212 


118 


75 


248 


1,152 


37 


1,190 


1932 


160 


27 


10 


14 


15 


110 


44 


12 


98 


490 


70 


560 


1933 


146 


35 


9 


18 


21 


100 


67 


15 


119 


529 


82 


611 


1934 


162 


49 


7 


20 


30 


120 


90 


28 


144 


649 


114 


763 


1935 


166 


55 


8 


23 


33 


129 


116 


38 


156 


725 


119 


844 


1936 


269 


69 


13 


27 


43 


150 


134 


36 


196 


938 


132 


1,069 


1937 


161 


85 


14 


27 


52 


190 


195 


48 


226 


997 


145 


1,143 


1938 


120 


70 


13 


21 


41 


154 


180 


43 


196 


838 


161 


998 


12 Months Ending 


























Aug. 1939 (3) 


118 


74 


15 


25 


50 


164 


184 


42 


199 


870 


172 


1,042 


Monthly Totals 


























1938-Mar. 


7.0 


6.8 


.2 


1.9 


3.9 


12.8 


17.7 


5.3 


17.7 


73.3 


17.6 


90.9 


Apr. 


3.3 


4.3 


.3 


.8 


2.3 


10.5 


13.8 


3.4 


12.2 


50.9 


9.3 


60.2 


May 


6.1 


6.0 


.6 


1.3 


2.8 


13.0 


16.6 


4.2 


16.4 


67.0 


14.3 


81.3 


June 


10.8 


5.6 


.8 


.9 


3.6 


12.5 


11.8 


4.6 


15.3 


65.9 


11.5 


77.4 


July 


9.9 


5.7 


1.7 


1.2 


4.3 


13.3 


11.5 


3.2 


15.4 


66.2 


11.5 


77.7 


Aug. 


7.9 


5.2 


1.6 


1.8 


4.1 


15.6 


15.2 


2.9 


14.8 


69.1 


16.6 


85.7 


1939-Mar. 


5.5 


6.1 


.6 


2.3 


4.3 


13.0 


16.3 


4.5 


16.7 


69.3 


15.5 


84.8 


Apr. 


2.8 


5.4 


.2 


1.1 


3.2 


9.6 


13.5 


2.4 


12.1 


50.3 


10.6 


60.9 


May 


11.3 


6.7 


1.0 


1.6 


3.7 


14.3 


18.6 


4.5 


18.2 


79.9 


15.9 


95.8 


June 


11.1 


4.7 


1.1 


1.8 


5.5 


14.8 


14.5 


4.2 


18.7 


76.4 


17.2 


93.6 


July 


10.6 


6.6 


2.0 


1.9 


5.2 


13.8 


14.3 


3.7 


17.7 


75.8 


15.2 


91.0 


Aug. (3) 


7.5 


6.5 


1.7 


1.7 


6.5 


16.0 


15.0 


3.8 


16.9 


75.6 


9.0 


84.6 



(1) Exports of Canadian produce. (2) For definition and further details see page 152. (3) Preliminary. 



MERCHANDISE EXPORTS (exclud.ng gold) : 1937-39 



MILLIONS OF DOLLARS 

105 



MILLIONS OF DOLLARS 

105 




152 



SEPTEMBER 193 i 



XII— GOLD EXPORT AND IMPORT STATISTICS* : 1936-39 

Dominion Bureau of Statistics and Bank of Canada 
TOTAL 







EXPORTS 






IMPORTS 




























Net 


INCREASE OR 


























RAW 


BULLION 


COIN 


Total 




COIN 


Total 


Exports 
or 

Imports 


IN GOLD HELD 
FOR ACC'T OF 
FOREIGNERS 


Exports 
(Adjusted) 


of Net 

Exports 

(Adjusted) 




(1) 
















(2) 




(3) 




Thousands of fine ounces 


%mm. 


Annual Totals 
























1936 


172 


2,039 


215 


2,427 


5 


17 


22 


2,405 


1 ,352 


3,757 


131.6 


1937 


211 


3,030 


344 


3,585 


6 


1 


7 


3,578 


580 


4,158 


145.1 


1938 


240 


1,935 


1 ,725 


3,901 


1,640 


10 


1,651 


2,250 


2,219 


4,469 


156.3 


Monthly Totals 
























1938— Apr. 


11 


- 


124 


135 


- 


- 


- 


135 


132 


267 


9.3 


May 


23 


- 


116 


139 


744 


- 


744 


605 


1,011 


406 


14.3 


June 


20 


2 


304 


326 


9 


1 


11 


315 


11 


326 


11.5 


July 


21 


- 


304 


325 


4 


- 


4 


321 


4 


325 


11.5 


Aug. 


23 


387 


65 


475 


- 


- 


- 


475 


1 


476 


16.6 


1939— Apr. 


13 


144 


_ 


158 


164 


1 ! 


177 


19 


233 


213 


7.5 


May 


22 


380 


2 


404 


147 




4,671 


4,267 


4,721 


454 


15.9 


June 


21 


466 


- 


487 


5,256 


2 


5,259 


4,771 


5,266 


495 


17.2 


July 


26 


405 


1 


432 


21 


3 


23 


408 


28 


436 


15.2 


Aug.* 


26 


960 


1 


987 


2,566 


6 


2,573 


1,585 


1,844 


258 


9.0 









MONETARY AND NON-MONETARY 












monetary' 4 ' 


NON-MONETARY <4) 




exports 


IMPORTS 


I-- IM1 ' 1 II 
MONETARY 
PURCHASE 

(5) 


Net 
Exports 

or 
Imports 
(Adjusted) 


DOMESTIC 
MONETARY 
PURCHASE 

(5) 


EXPORTS 


IMPOKTS 


NET 
INCREASE OR 

IN GOLD HELD 

FOR ACCTOF 

FOREIGNERS 

(2) 


Net 

Exports 

(Adjusted) 


Value 
of Net 
Exports 

(3) 


Percentage 
of Total 
Merchan- 
dise 
Exports 

(6) 




Thousands of fi 


te ounces 






$ mm. 


Per cent 


Annual Totals 

1936 












2,427 


.).) 


1,352 


3,757 


131.6 


12.3 


1937 


348 


- 


34 S 


- 


348 


3,237 


7 


580 


4,158 


145.1 


12.7 


1938 


- 


- 


L22 


122 


122 


3,901 


1,651 


2,219 


4,591 


160.5 


16.1 


Monthly Totals 

1938— Apr. 


_ 






_ 


_ 


135 


_ 


132 


267 


9.3 


15.4 


May 


- 


- 


- 


- 


- 


139 


711 


1,011 


406 


14.3 


17.6 


June 


- 


- 


- 


- 


- 


326 


11 


11 


326 


11.5 


14.9 


July 


- 






- 


- 


325 


•J 


4 


325 


11.5 


14.8 


Aug. 


- 




- 




- 


475 


- 


1 


475 


16.6 


19.4 


1939— Apr. 


_ 




90 


90 


90 


158 


177 


233 


303 


10.6 


17.4 


May 


- 


- 




- 


- 


404 


4,671 


4,721 


454 


15.9 


16.6 


June 


- 


- 


- 


- 


- 


487 


5,259 


5,266 


495 


17.2 


18.4 


July 


- 


- 


- 


- 


- 


432 


23 


28 


436 


15.2 


16.7 


Aug.* 


- 






- 


_ 


987 


2,573 


1,844 


258 


9.0 


10.6 



* In continuation of table on pages 42 and 43 of the March 1939 Summary. (1) Exports direct from mines, including all exports of ores, concentrates, dust, etc. (2) Changes 
in gold held under earmark at the Bank of Canada plus estimated changes in other foreign-owned gold held in Canada. (3) Valued monthly at market price in Canadian 
dollars, except in the case of earmarkings which are valued at $35 per fine ounce. (4) Monetary exports or imports are those which decrease or increase Canadian 
monetary gold stocks, i.e. stocks of the Bank of Canada; all other items are classed as non-monetary. (5) A domestic gold purchase for Canadian monetary stock has been 
treated as the equivalent of (a) an export of non-monetary gold, and (b) an import of monetary gold. (6) Value of net exports of non-monetary gold expressed as a 
percentage of the value of total merchandise exports, including non-monetary gold, t Preliminary. 



'TEMBER 1939 



153 



Millions of Bushels 



XIII— WHEAT : CHIEF EXPORTERS 

Compiled from Dominion Bureau of Statistics Publications and Stanford 
Food Research Institute" Wheat Studies" 





CANADA 


UNITED STATES 


AUSTRALIA 


Crop Years 
Aug. 1 to July 31 


Old 
Stocks 

(4) 


Surplus 

Pro- 
duction 


Net 

Exports 

(5) 


Carryover 

(4) 


Old 

Stocks 


Surplus 

Pro- 
duction 


Net 
Exports 


Carryover 


Old 

Stocks 


Surplus 
Production 


Net 
Exports 


Carryover 


5-Year Averages 

1927-28 to 1931-32 
1932-33 to 1936-37 

Crop Years 

1934-35"' 
1935-36"' 
1936-37"' 
1937-38"' 
1938-39"' 
1939-40°' 


108 
180 

203 
214 
127 
37 
25 
102 


294 
195 

174 
160 
120 
84 
238 
321 


278 
215 

163 
247 
210 
96 
161 


124 

160 

214 

127 

37 

25 

102 


216 
266 

274 
148 
142 
83 
154 
254 


198 
(56) 

(130) 
(37) 
(76) 
189 
212 
36 


142 
5 

(4) 
(3D 
(17) 
118 
112 


272 
205 

148 
142 
83 
154 
254 


44 

58 

85 
57 
43 
41 
50 
55 


113 

108 

81 
88 
98 

135 
95 

138 


110 
110 

109 
102 
100 
126 
90 


47 
56 

57 
43 
41 
50 
55 








ARGENTINA 


TOTAL FOR "BIG FOUR" 


Net 
Exports 
of other 
normally 
exporting 
countries 
(8) 


Net 
Imports 
of normally 
importing 
European 
countries 

(9) 


Estimated 

World 

Stocks 

Beginning 

of 
Crop Year 




Crop Years 
Aug. 1 to July 31 


Old 
Stocks 


Surplus 

Pro- 
duction 


Net 
Exports 


Carryover 


Old 
Stocks 


Surplus 

Pro- 
duction 


Net 
Exports 


Carryover 


Estimated 

World 
Production 

(10) (11) 


5-Year Averages 

1927-28 to 1931-32 
1932-33 to 1936-37 

Crop Years 

1934-35"' 
1935-36"' 
1936-37"' 
1937-38"' 
1938-39"> 
1939-40' 3 ' 


88 
82 

118 
85 
65 
51 
65 

182 


162 
136 

149 

50 
148 

86 
237 
160 


163 
139 

182 
70 

162 
72 

120 


87 
79 

85 
65 
51 
65 
182 


456 
586 

680 
504 
377 
212 
294 
593 


767 

383 

274 
261 
290 
494 
782 
655 


693 
469 

450 
388 
455 

412 
483 


530 
500 

504 
377 
212 
294 
593 


98 
80 

55 

84 
121 
130 
130 


608 
397 

355 
349 
438 
403 
425 


844 
1,015 

1,203 
957 
780 
525 
601 

1,141 


3,821 
3,692 

3.556 

3,574 
3,579 
3,851 
4,557 
4,259 



(1) Revised. (2) Preliminary. (3) Preliminary estimate. (4) Including Canadian grain in U.S.A. (5) Adjusted for changes i 
U.S.A. (6) Including United States wheat in Canada. (7) Adjusted for changes in stocks of United States wheat in Canada. 
Lithuania, U.S.S.R.', India and French North Africa; net exports from the group as a whole, after deducting any net imports. 
Germany, Czechoslovakia, Austria, Switzerland, Belgium. Netherlands, Denmark, Norway. Sweden, Spain, Portugal, Latvia, Est< 
imports for the group as a whole. (10) "World" excludes U.S.S.R. and China. (11) Calendar years. 



i stocks of Canadian wheat in 

(8) Lower Danube, Poland, 

(9) U.K., Eire, France, Italy, 

nia, Finland and Greece; net 



WINNIPEG WHEAT PRICES : CASH AND OCTOBER FUTURES : 1938-39 



i tx. 

I 40 










\a[ U CASH V 


/HEAT 






■00 
60 


















OCTOBER FUTURE Al 




i- OCTOBER FUTURE 


1 





= I I I I I 


III!! 


\ CASH WHEAT 

1 T'T I I 


! 1 : 



CT. -NOV. 1939 



154 



Millions of Dollars 



BANK OF CANADA 

SOURCES AND DISTRIBUTION OF CASH 

MONTHLY AVERAGE OF WEDNESDAY FIGURES 



Millions of Dollars 







1939 



1940 



155 

















OCT. - NOV. 1939 


Millions of Dollars 
















I-B 




LIABILITIES 




Chartered Bank Cash 


Govt. 
Deposits 


Other 
Deposits 


Active 

B. of C. 

Note 

Circulation 


All 

Other 

Accounts 


To 

Asi 

Llab! 




Notes 
in Tills 


Deposits 

at 
B. of C. 


Total 


Average of 
Wednesday Figures 

1935- 9 Mths. 


37.2 


176.5 


213.7 


23.9 


.7 


48.9 


6.8 


29 


1936-12 Mths. 


40.4 


184.7 


225.1 


22.5 


1.0 


64.0 


9.4 


32: 


1937-12 Mths. 


49.8 


191.4 


241.2 


25.8 


1.2 


90.6 


13.5 


37: 


1938-12 Mths. 


56.0 


199.6 


255.6 


22.8 


2.1 


105.9 


12.5 


39! 


1938— Oct. 


62.0 


216.2 


278.2 


28.6 


1.4 


118.4 


9.5 


43< 


Nov. 


58.3 


219.9 


278.2 


26.6 


1.5 


116.4 


10.5 


43: 


Dec. 


59.6 


204.6 


264.2 


28.4 


2.3 


115.6 


10.1 


42! 1 


1939— Jan. 


61.1 


210.4 


271.5 


23.6 


3.3 


107.5 


10.1 


41i 


Feb. 


53.4 


207.0 


260.4 


31.8 


3.1 


106.0 


10.4 


41 


Mar. 


52.1 


205.3 


257.4 


19.3 


4.3 


107.2 


9.1 


39 


Apr. 


56.1 


203.7 


259.8 


20.4 


8.0 


109.4 


9.0 


40i 


May 


55.4 


206.3 


261.7 


27.1 


8.0 


110.8 


9.8 


41 


June 


57.3 


203.8 


261.1 


30.8 


5.0 


108.2 


9.3 


41 


July 


57.4 


203.6 


261.0 


25.0 


5.1 


111.5 


9.1 


41 i 


Aug. 


58.9 


203.0 


261.9 


29.5 


8.0 


115.2 


10.0 


42 


Sept. 


64.1 


205.6 


269.7 


42.3 


11.3 


134.2 


13.7 


47 


Oct. 


72.3 


217.4 


289.7 


45.6 


16.0 


154.3 


13.6 


51 


Wednesdays 

Nov. 1 


65.6"' 


230.2 


295.8 12 ' 


39.0 


19.1 


159.7 (2) 


17.3 


53 


8 


70.8 <2) 


225.8 


296.6 (2) 


37.5 


19.6 


156.0 (2> 


13.7 


52 


15 


68.9 (2 > 


223.4 


292.3 (2) 


43.9 


30.9 


156.1 (2) 


20.0 


54 


22 


69.2 <2) 


223.6 


292.8 (2) 


47.9 


20.6 


153.7 (2) 


13.2 


52 


(1) Includes "Other 


Securities". 


(2) Estimates. 
















BA 


NK OF CA 


SIADA NOTE 


.S AND DEPOSITS* 









MILLIONS OF DOLLARS 



ILLIONS OF DOLLARS 




DEPOSITS WITH BAN 



♦Deposits by Chartered Banks only. 



OCT. -NOV. 1939 
AN ADA 



156 



Millions of Dollars 



ASSETS 




Reserve 








Securities 




Advances 


All 

Other 

Accounts 




1 


Silver 


Foreign 
Currencies 


Total 
Reserve 


Reserve 
Ratio 


Dom.-Prov. 
Short 


Dom.-Prov. 
Long 


Total'" 
























Average of 

Wednesday Figures 


6 


1.4 


10.3 


166.2 


57.87 


25.6 


94.0 


119.6 


4.1 


4.0 


1935- 9 Mths 


7 


1.8 


11.4 


192.9 


61.69 


37.0 


86.3 


123.2 


1.7 


4.2 


1936-12 Mths 





2.5 


20.4 


204.8 


57.11 


57.9 


98.4 


162.2 


- 


5.1 


1937-12 Mths 





.9 


28.7 


210.6 


54.50 


122.5 


53.0 


181.2 


.9 


6.3 


1938-12 Mths 


4 


- 


36.2 


217.6 


51.02 


161.9 


46.1 


208.0 


4.8 


5.6 


Oct.— 1938 


2 


- 


39.8 


220.9 


52.27 


162.2 


42.5 


204.7 


2.0 


5.6 


Nov. 


4 


- 


40.9 


223.3 


54.40 


151.0 


40.5 


191.4 


- 


5.9 


Dec. 


4 


- 


31.1 


219.5 


54.09 


140.1 


41.6 


181.7 


_ 


14.7 


Jan.— 1939 


6 


- 


42.1 


236.8 


59.01 


128.8 


39.1 


167.9 


- 


7.0 


Feb. 


6 


- 


32.3 


233.9 


60.26 


129.8 


28.6 


158.4 


- 


5.0 


Mar. 


6 


- 


33.2 


238.9 


60.09 


133.7 


28.5 


162.3 


- 


5.4 


Apr. 


9 


- 


35.6 


241.5 


59.23 


122.8 


43.7 


166.5 


- 


9.5 


May 


6 


- 


41.4 


247.0 


60.97 


110.4 


52.0 


162.5 


_ 


4.9 


June 


5 


- 


36.9 


242.4 


60.22 


111.7 


51.3 


163.0 


- 


6.3 


July 


8 


- 


50.5 


256.2 


61.80 


110.7 


51.9 


162.6 


- 


5.9 


Aug. 


6 


- 


51.6 


276.2 


60.37 


128.5 


60.8 


189.4 


.3 


5.4 


Sept. 


7 


- 


51.4 


277.1 


54.80 


174.1 


59.1 


233.2 


1.0 


7.9 


Oct. 

Wednesdays 


i 


- 


46.6 


272.2 


53.00 


190.9 


55.1 


246.0 


1.0 


11.7 


Nov. 1 


7 


- 


45.7 


271.3 


53.22 


190.8 


54.9 


245.7 


- 


6.4 


8 


7 


- 


48.8 


274.5 


52.46 


211.0 


45.9 


256.9 


- 


11.7 


15 


7 


_ 


49.0 


274.6 


53.32 


202.7 


45.9 


248.6 


- 


4.9 


22 



CHARTERED BANKS: RATIO OF CASH IN CANADA TO CANADIAN DEPOSITS. 1927-39 

12/61 monthly average: TIGURES 112% 




1927 28 '29 '30 '31 



'32 '33 '34 '35 "36 



'37 '38 '39 '40 '41 



157 



































OC1 




NOV. 1939 














H-CHA l) 


Millions of Dollars 












B, 




LIABILITIES 






Notes 


Deposits 


Cash 

in 

Canada" 1 


Securities 




Demand 


Time 


Dom. 
and Prov. 


Canadian 
Deposits' 


Foreign 


Total 
Deposits' 21 


DOM.-PROV. 


c 

: 

:i 




Short 1 Long 


Average of 
Month-end Figures 

1926 
1929 
1932 
1933 


169 
178 
132 
130 


553 

696 
486 
489 


1,341 
1,480 
1,376 
1,379 


53 

102 
82 
62 


1,958 
2,293 
1,955 
1,941 


330 

4 IS 
312 
308 


2,333 
2,837 
2,322 
2,290 


197 
212 
186 
195 


344 
342 
490 
627 


1934 
1935 
1936 
1937 
1938 


136 
126 
119 
110 
100 


514 
569 
618 
691 
690 


1,373 

1,445 
1,518 
1,574 
1,630 


66 
65 
77 
90 
94 


1,966 
2,104 
2,245 
2,382 
2,449 


322 

348 
401 
421 
408 


2,317 
2,476 
2,668 
2,840 
2,892 


203 
216 
225 
240 
252 


684 
407 454 
447 628 
445 674 

447 696 




End of 

1938— Oct. 
Nov. 
Dec. 


101 
97 
95 


749 
750 
734 


1,656 
1,655 
1,660 


75 

94 

106 


2,518 
2,506 
2,498 


419 
436 
420 


2,961 
3,004 
2,986 


286 
271 
257 


451 
448 
469 


669 
693 
693 




1939— Jan. 
Feb. 
Mar. 
Apr. 
May 


90 
94 
97 
95 
90 


700 
690 
705 
716 
684 


1,667 
1,691 
1,700 
1,697 
1,678 


90 
89 
86 
97 
162 


2,501 
2,514 
2,538 
2,551 
2,567 


430 
432 
452 
468 
484 


2,954 
2,974 
3,021 
3,050 
3,080 


269 
261 
253 
255 
260 


464 
481 
528 
511 
444 


697 
711 
671 
692 
754 




June 
July 
Aug. 
Sept. 
Oct. 


97 
93 
93 
100 
95 


702 
694 
705 
763 

822 


1,680 
1,697 
1,702 
1,692 
1,709 


159 
128 
117 
127 
306 


2,591 
2,567 
2,565 
2,600 
2,850 


504 

-174 
501 
490 
492 


3,126 
3,072 
3,100 
3,144 
3,402 


249 
261 
259 
275 
300 


455 
446 
443 
446 

617 


758 
761 
744 
733 
736 




(1) Estimated month-end deposits payable in Canadian currency. (2) Includes inter-bank deposits. H 
(3) Until March 1935; Gold and Coin in Canada. Dominion Notes and "Free" Central Gold Reserve Deposits; after that date: Bank of Canada Notes and Deposit; 


CHARTEF 


(ED BANKS: CURRENT LOANS TO THE PUBLIC IN CANADA: 1935 


-39 


MILLIONS OF DOLLARS 




MONTH-END FIGURES 






MILLIONS 


OF DOLLARS 


1000 












-900 










IU0U 




900 












1839 ^^ 1 


900 








BOO 






//'""X 












900 








^— 


:>--* 


• 

■ — — — ^ 

-1938 y^ ^^ 

'—1937 


















: 


t 


1 1 1 1 1 


^0 










800 


800 




I ° 




F M A M J J A S O N 
























700 
























700 
























= 


■ 

















































| 

o 


J FMAMJJA 
1935 


S O N D 


J F 


M A 


M J J 

i93e 


A S O N D 


J 


F M 


1, M J J A 
1937 


S O N D 


j r m 


A M J J A 
1938 


S O N D 


J FMAMJJA 
1939 


S O N D 





3CT.-N0V. 1939 



I3ANKS 



158 



Millions of Dollars 



Loans 



140 
267 
117 
102 

102 
82 
93 

107 
67 



934 
1 ,343 
1,032 

907 

869 
829 
699 
732 
786 

848 
837 
806 

792 
787 
801 
814 
822 

822 
814 
826 
891 
952 



87 
112 
165 
147 

145 
134 
121 
117 
129 

137 
133 

134 

127 
133 
142 
142 
142 

135 
133 
130 
128 
131 



250 

301 

84 

92 

107 
72 
64 
68 
51 

52 
48 
51 

56 
54 
49 
44 
50 

42 
43 
42 
52 
46 



261 
248 
172 
148 

138 
146 
150 
165 
158 

142 
148 
152 

148 
145 
144 
143 
141 

144 
145 
141 
148 
148 



Total 

Assets 



2,864 
3,528 
2,869 
2,831 

2,838 
2,957 
3,145 
3,317 
3,349 

3,424 
3,455 
3,431 

3,396 
3,421 
3,471 
3,496 
3,521 

3,575 
3,520 
3,548 
3,605 
3,852 



DAILY AVERAGE DATA 




Cash 


Canadian 


Ratio of 
Cash to 


Total 
Active 




Canada" > 


Deposits* 4 ' 


Deposits in 
Canada 


Note 

Circulation"' 












Average of 










Daily Figures 


192 


1,958 


9.8 


195 


1926 


191 


2,293 


8.3 


205 


1929 


172 


1,955 


8.8 


158 


1932 


189 


1,941 


9.8 


157 


1933 


201 


1,966 


10.2 


163 


1934 


213 


2,108 


10.1 


169 


1935 


225 


2,213 


10.2 


182 


1936 


240 


2,357 


10.2 


200 


1937 


254 


2,412 


10.5 


205 


1938 


277 


2,474 


11.2 


220 


Oct. —1938 


279 


2,487 


11.2 


214 


Nov. 


261 


2,473 


10.6 


216 


Dec. 


269 


2,473 


10.9 


195 


Jan.— 1939 


260 


2,466 


10.6 


197 


Feb. 


257 


2,485 


10.3 


201 


Mar. 


258 


2,520 


10.2 


204 


Apr. 


261 


2,531 


10.3 


202 


May 


259 


2,537 


10.2 


202 


June 


259 


2,543 


10.2 


204 


July 


261 


2,532 


10.3 


207 


Aug. 


270 


2,558 


10.6 


233 


Sept. 


289 


2,710 


10.7 


251 


Oct. 



ithly average Canadian deposits in 1936 and after. 



MILLIONS OF DOLLARS 



BANK DEBITS : 1937-39 

32 CLEARING HOUSE CENTRES 



MILLIONS Or DOLLARS 



3500 



3000 



2500 



2000 




3500 



3000 



2500 



2000 



159 



OCT. -NOV. 1939 



III— SECURITY PRICES 

Bank of Canada 





Dominion of Canada Bonds Payable in Canada Only 

Middle Prices and Yields 


Average of 
Business Days 


3H% due 
1956 


June 1, 
-66 


3% due 
1950 


June 1, 

-55 


3H% dm 
1946 


June 1, 
-49 


5% due Oct. 15, 
1943 


2% due June 1, 
1942 




Price 


Yield 


Price 


Yield 


Price 


Yield 


Price 


Yield 


Price 


Yield 


1938 


100.41 


3.22 


99.01 


3.08 


102.73 


2.86 


113.51 


2.27 


101.38 


1.63 


1938— Oct. 
Nov. 
Dec. 


100.24 
101.39 
101.94 


3.23 
3.15 
3.10 


98.89 
99.75 
99.80 


3.09 
3.02 
3.02 


102.30 
103.25 
103.44 


2.91 
2.77 
2.74 


112.62 
113.66 

113.48 


2.31 
2.06 
2.06 


101.14 
101.94 
101.90 


1.68 
1.44 
1.44 


1939— Jan. 
Feb. 
Mar. 
Apr. 


101.99 
102.44 
102.46 
101.53 


3.10 
3.07 
3.07 
3.13 


99.72 
99.94 
100.48 
100.08 


3.02 
3.01 
2.95 
2.99 


103.70 
103.85 
104.02 
103.10 


2.69 
2.67 
2.63 
2.77 


112.97 
112.85 
112.80 
112.00 


2.12 
2.09 
2.06 
2.19 


101.67 
101.49 
101.61 
101.22 


1.49 
1.53 
1.48 
1.61 


May 
June 
July 

Aug. 


101.33 
102.24 
102.12 
101.09 


3.15 
3.08 
3.09 
3.17 


99.47 
100.40 
100.35 

99.21 


3.04 
2.96 
2.96 
3.06 


102.88 
104.38 
104.48 
102.96 


2.80 
2.56 
2.54 
2.77 


111.62 
111.94 
111.90 
111.08 


2.22 
2.10 
2.06 
2.20 


101.07 
101.23 
101.27 
100.90 


1.64 
1.57 
1.55 
1.67 


Sept. 
Oct. 

Nov. ' 


94.33 
95.99 
97.31 


3.58 
3.48 
3.41 


92.68 
94.47 
95.79 


3.62 
3.46 
3.35 


96.82 

99.37 

100.30 


3.64 
3.33 
3.20 


107.52 

10S.60 
109.38 


3.03 
2.72 
2.47 


99.07 
100.01 
100.54 


2.36 
2.00 
1.78 



(1) Average Nov. 1-24. 



YIELDS OF DOMINION GOVERNMENT BONDS : 1938-39 

PAYABLE IN CANADA ONLY 
Daily Opening Quotations 




1 938 1 939 

* Average rate of successful tenders for new offerings. (1) November 15. (2) November 24. 



)CT. -NOV. 1939 



160 



IN- 



SECURITY PRICES 

Bank of Canada 



Average of 


Government Bonds 

Middle Prices and Yields 


Treasury Bills 

Three Months 

Average Yield of Successful 

Tender s^ 


Business Days 


Canada* (1) 


U. K.* < J > 


U.S.A.* w 


Canada 


U.K. 


U.S.A. 




Price 


Yield 


Price 


Yield 


Price 


Yield 


1938 

1938— Oct. 
Nov. 
Dec. 

1939— Jan. 
Feb. 
Mar. 
Apr. 

May 
June 
July 
Aug. 

Sept. 
Oct. 

Nov. CS) 


99.71 

99.57 
100.57 
100.87 

100.86 
101.19 
101.47 
100.81 

100.40 
101.32 
101.24 
100.15 

93.51 
95.23 
96.55 


3.15 

3.16 
3.09 
3.06 

3.06 
3.04 
3.01 
3.06 

3.10 
3.02 
3.03 

3.12 

3.60 
3.47 
3.38 


100.79 

99.44 
99.42 
97.99 

96.97 
96.80 
96.07 
92.80 

93.31 
94.30 
92.59 
89.99 

87.46 
89.33 
92.13 


3.41 

3.52 
3.52 
3.57 

3.61 
3.62 
3.64 
3.77 

3.75 
3.71 
3.78 
3.89 

4.00 
3.92 
3.80 


103.51 

104.44 
104.17 
104.36 

104.74 
105.15 
106.47 
107.15 

108.70 
109.52 
109.49 
108.67 

102.66 
103.36 
105.21 


2.61 

2.54 
2.56 
2.55 

2.52 
2.48 
2.39 
2.34 

2.22 
2.16 
2.16 

2.21 

2.67 
2.61 
2.47 


.590 

.747 
.693 
.672 

.690 
.681 
.655 
.636 

.631 
.614 
.584 
.553 

.846 
.880 
.872 


.614 

.773 

.526 

1.003 

.534 

.503 

.506 

1.560 

.669 
.833 
.787 
.703 

3.509 
2.034 
1.183 


.055 

.018 
.027 
.013 

Nil 
.005 
Nil 
.025 

.009 
.004 
.012 
.032 

.159 
.022 
.020 



* Differing coupon rates and maturity provisions, and the fact that the U. S. Treasury issue 
comparison of absolute yield levels. 

(1) Average of Dominion of Canada 3% due June 1, 1950-55 and l\i% due June 1. 1956-66. 

(2) United Kingdom 314% "War Loan" due Dec. 1, 1952 and after; price excluding accrued interest. 

(3) U. S. Treasury lli% due Mar. 15. 1955-60. 

(4) On (or nearest to) 15th of each month. (5) Average Nov. 1-24 for Bond Prices and Yields. 



exempt from "normal" income tax, vitiate any direct 



LONG TERM DOMESTIC GOVERNMENT BOND YIELDS: 
CANADA, U.K. & U.S.A.: 1938-39 

Daily Opening Quotations 



2 25% 



2 50% 




3 50% 



OCT. NOV 

1938 
(1) November 24 



SEPT OCT NOV DEC. 



161 



OCT. -NOV. 1939 



Par Values in Millions of Dollars 



IV— BOND ISSUES AND RETIREMENTS" 

Bank of Canada 





I Dominion' 2 ' Direct & Guaranteed and Other C.N.R. <■» 




II-Provincial<» Direct & Guaranteed"' 




Sales 


Deliveries 


Retirements 


Net De- 
liveries 
or Retire- 


Sa 


.ES 


Dei.iv 


ERIES 


Retirements 


Net De- 
liveries 




New 


Refunding 


New 


Refunding 


Refunded 


Other 


New 


Refunding 


New 


Refunding 


Refunded 


Other 


or Retire, 
merits 


Calendar Years 

1936 


129.4 


273.3 


129.4 


273.3 


273.3 


43.3 


86.1 


82.5 


40.2 


80.4 


37.1 


17.0 


60.9 


39.7 


1937 


49.8 


298.5 


49.8 


298.5 


298.5 


38.9 


10.9 




98.1 


74.1 


100.2 


77.2 


96.4 


22.4 


58.5 


1938 


107.6 


178.5 


107.6 


178.5 


178.5 


37.4 


70.2 




86.1 


34.2 


86.1 


34.2 


35.0 


39.2 


46.1 


9 Months 

1936 


129.4 


273.3 


129.4 


273.3 


215.1 


38.9 


148.7 




33.9 


5.5 


33.9 


5.5 


5.5 


55.1 


21.2 


1937 


49.8 


198.5 


49.8 


198.5 


198.5 


14.6 


35.2 




47.4 


62.2 


49.5 


65.2 


85.4 


18.0 


11.3 


1938 


103.6 


138.5 


103.6 


138.5 


138.5 


35.7 


67.9 




35.9 


16.1 


35.9 


16.1 


17.0 


35.4 


.4 


1939 


100.6 


110.4 


100.6 


110.4 


110.4 


22.6 


77.9 




89.3 


35.0 


89.3 


35.0 


35.0 


32.4 


56.9 


Third Quarter 

1936 


26.8 


73.2 


26.8 


73.2 


15.0 


33.2 


51.8 




1.0 


.2 


1.0 


.2 


.2 


12.2 


//./ 


1937 


14.3 


- 


14.3 


- 


- 


3.3 


11.0 




8.1 


20.1 


32.4 


26.7 


6.1 


8.5 


44.6 


1938 


3.6 


- 


3.6 


48.7 


48.7 


8.5 


4.9 




14.7 


2.1 


14.7 


3.6 


3.6 


10.7 


4.0 


1939 


6.5 


- 


6.5 


- 


- 


7.6 


hi 




30.0 


- 


39.3 


- 


9.4 


14.0 


15.9 





III-CORPORATIONS 




Sales 


Deliveries 


Retirements^ 


Net De- 
liveries 

or Retire- 
ments 




New 


Refunding 


New 


Refunding 


Refunded 


Other 


Calendar Years 

1936 


(7) 

89.4 


183.7 


(7) 

87.4 


175.2 


162.0 


49.1 


51.5 


1937 


58.0 


62.2 


60.1 


70.6 


83.8 


56.7 


9.8 


1938 


32.0 


31.0 


31.1 


30.9 


30.9 


41.9 


10.8 


9 Months 

1936 


81.5 


150.2 


79.3 


120.2 


119.4 


35.6 


44.5 


1937 


51.1 


59.9 


53.1 


68.3 


76.5 


48.4 


3.5 


1938 


23.9 


29.1 


22.9 


29.1 


15.4 


29.8 


6.8 


1939 


19.8 


198.4 


20.6 


198.6 


173.1 


45.0 


1.1 


Third Quarter 

1936 


5.4 


38.2 


3.8 


12.7 


59.9 


5.1 


48.5 


1937 


3.3 


18.3 


4.2 


24.9 


23.0 


17.5 


11.4 


1938 


5.4 


15.0 


5.1 


15.2 


14.6 


10.9 


5.2 


1939 


4.1 


32.6 


8.7 


45.5 


63.5 


11.9 


21.2 



I +11+ III 



Net Deliveries 

or 
Retirements 



177.3 

59.5 

105.5* 

172.0 
43.0 
74.3 

135.9 

7.8 
44.2 

6.2 
6.4 



iv-dominion 
Treasury Bills' 5 ' 


Net De- 
liveries or 
Retire- 


Total 
outstanding 




At end of 
Year 


57.3 


150 


- 


150 


5.0 
27.3 


155 

At end of 

third 

quarjr 


- 


150 


5.0 


155 


- 


155 


- 


120 


15.0 


150 


5.0 


155 


- 


155 



Municipalities 
and Religious 
Institutions 


Sales' 6 ' 


New 


Refunding 


25.1 


22.9 


27.1 


35.4 


31.9 


7.0 


21.9 


21.1 


22.0 


31.4 


23.3 


5.7 


17.7 


10.7 


3.1 


3.0 


4.8 


.2 


9.8 


.9 


2.5 


1.2 



(1) Suhject to revision. (2) Treasury Bills are excluded. For particulars of Dominion Treasury Bills see Heading IV. (3) C.N.R. bonds guaranteed by provinces arc 
treated under the heading "Other C.N.R." (4) Includes retirements through sinking fund purchases. In many cases available data did not permit more than arbitrary 
approximations for separate portions of the fiscal year. (5) Three months Bills, payahle in Canada only. (6) It was impossible to classify issues of municipalities and 
religious institutions totalling $4.1 mm. in 1936, $2.5 mm. in 1937, $4.8 mm. in 1938 and $?.6 mm. in the first nine months of 1939 between new and refunding. In each 
quarter such issues have been arbitrarily allocated in the same proportions as the known issues in the quarter. Because of lack of sufficient data no tabulation of retire- 
ments by municipalities and religious institutions was possible. (7) Includes $48 mm. of C.P.R. bonds issued to refund Dominion guaranteed bank loans. $12 mm. 
■ , 1 livi I'd in the first quarter and $36 mm. in the second quarter of 1936. *The $40 mm. Dominion issue due in New York on 1st Jan. 1939, which was refunded 
in New York in November, 1938, is for purposes of this table taken as maturing in the last quarter of 1938. 



OCT. -NOV. 1939 



162 



Par Values in Millions of Dollars 



SUMMARY OF CHANGES IN CURRENCY OF PAYMENT* 

DOMINION' 2 ' AND PROVINCIAL' 2 ' DIRECT AND GUARANTEED, OTHER C.N.R. 
AND CORPORATION BONDS' 31 







DELIVERIES were payable in: 






RETIREMENTS^ were payable in: 




Net Inc 

Net D 

In Bonds 

ing Pi 


Tease or 
'crease 




Canada 
only 


New York 
only 


Canada & 
New York 


(5) 
London 


Total 


Canada 
only 


New York 
only 


Canada & 
New York 


Canada, 
New York 
& London 


(5) 
London 


Total 


lyable: 




in Canada 
only 


Abroadt 


Calendar Years 

1936 


652.5 


120.0 


3.0 


1.4 


782.9 


281.2 


158.8 


33.5 


114.6 


17.5 


605.6 


371.3 


194.0 


1937 


537.1 


93.8 


10.3 


15.2 


656.3 


356.4 


24.3 


127.6 


55.4 


33.1 


596.8 


180.6 


121.1 


1938 


376.7 


40.3 


.3 


51.2 


468.4 


200.3 


49.2 


24.4 


21.5 


67.6 


362.9 


176.4 


70.9 


9 Months 

1936 


511.2 


126.0 


3.0 


1.4 


641.6 


201.9 


152.8 


28.2 


71.5 


15.2 


469.6 


309.3 


137.3 


1937 


376.5 


93.8 


3.8 


10.4 


484.5 


211.7 


22.4 


125.2 


52.6 


29.5 


441.4 


164.9 


121.8 


1938 


294.5 


•3 


.3 


51.1 


346.1 


170.9 


8.2 


22.4 


4.5 


65.9 


271.8 


123.6 


49.3 


1939 


423.9 


82.2 


48.3 


.1 


554.5 


203.9 


16.9 


86.9 


84.2 


26.6 


418.6 


220.0 


84.1 


Third Quarter 

1936 


117.7 


_ 


_ 


_ 


117.7 


32.9 


61.9 


4.9 


17.4 


8.4 


125.4 


84.8 


92.5 


1937 


95.3 


- 


3.3 


4.0 


102.6 


20.2 


9.5 


10.3 


6.2 


12.2 


58.3 


75.1 


30.9 


1938 


42.0 


- 


.2 


48.7 


90.8 


23.3 


1.7 


16.2 


.8 


55.0 


97.0 


18.7 


24.9 


1939 


57.8 


2.2 


40.1 


- 


100.0 


54.5 


6.5 


5.8 


36.9 


2.6 


106.4 


3.3 


9.6 



*, (1), (2) and (4), see corresponding notes on opposite page. (3) Issues of municipalities and religious institi 
sufficient information. (5) Including issues payable optionally in Canada or London. tOnly or optionally. 



are not included in this tabulation owing to lack of 



NET DELIVERIES C+) OR RETIREMENTS (-) OF GOVERNMENT BONDS : 1936-39 



PAYABLE IN CANADA ONLY 




1936 1937 1936 1939 



PAYABLE ABROAD 



6-MONTH TOTALS 



nrn 



TOTAL 




1936 1937 1938 1939 



t Dominion and Provincial Direct and Guaranteed and other C.N.R. * 6-months ending September. 



1936 1937 1938 1939 



163 



OCT. - NOV. 1939 



V— INDUSTRIAL ACTIVITY 

Dominion Bureau of Statistics 





Physical 
Volume of 






PRODUCTION 






Con- 


Car 
Loadings 


Employ- 




Business 
Index 


Gold 


Nickel 


Steel 


Auto- 
mobiles 


News- 


Central 
Electric 


Contracts 


Index< 2 > 




Seasonally 
adjusted 








& Trucks 




Stations 






Seasonally 
adjusted 




Thousands 


Thousands 


Thousands 




Thousands 


Millions 


Millions 






1926 = 100 


Fine Ounces 


Short Tons 


Long Tons 


ousan s 


Short Tons 


Kilowatt Hrs. 


of Dollars 




1926 = 100 


Annual TotalsU) 






















1926 


100.0 


1,754 


33 


776 


205.0 


1,878 


11,926 


372.9 


3,253 


100.0 


1929 


125.5 


1,928 


55 


1,378 


262.6 


2,729 


17,633 


576.7 


3,524 


119.2 


1932 


78.7 


3,044 


15 


339 


60.8 


1,919 


15,863 


132.9 


2,176 


86.4 


1933 


79.7 


2,949 


42 


410 


65.9 


2,012 


17,553 


97.3 


2,032 


84.2 


1934 


94.2 


2,972 


64 


758 


116.9 


2,597 


21,160 


125.8 


2,321 


96.4 


1935 


102.4 


3,285 


69 


942 


172.9 


2,751 


23,404 


160.3 


2,358 


99.8 


1936 


112.2 


3,748 


85 


1,116 


162.2 


3,209 


25,934 


162.6 


2,494 


104.0 


1937 


122.7 


4,096 


113 


1,403 


207.5 


3,648 


27,584 


224.1 


2,635 


114.1 


1938 


112.9 


4,716 


105 


1,156 


166.1 


2,625 


25,994 


187.3 


2,429 


111.4 


Monthly Totals 






















1938-June 


108.4 


390.7 


8.2 


109.4 


14.7 


201.7 


1,973 


20.9 


187.5 


111.4 


July 


109.1 


420.8 


8.7 


83.9 


9.0 


202.5 


1,988 


21.2 


182.5 


109.0 


Aug. 


110.5 


412.1 


8.3 


82.8 


6.5 


220.3 


2,076 


22.1 


213.2 


110.6 


Sept. 


119.2 


409.6 


8.5 


73.6 


6.1 


231.9 


2,168 


19.5 


249.6 


111.0 


Oct. 


118.6 


411.3 


8.1 


76.3 


5.8 


254.9 


2,333 


18.1 


256.6 


109.7 


1939-June 


121.4 


436.8 


10.1 


107.9 


14.5 


240.5 


2,245 


25.2 


194.5 


113.6 


July 


120.5 


440.1 


9.8 


111.1 


9.1 


227.6 


2,205 


22.1 


196.4 


114.3 


Aug. 


125.2 


449.2 


10.1 


122.0 


3.5 


237.0 


2,292 


25.8 


229.0 


115.0 


Sept. 


128.6 


421.5 


10.1 


124.4 


3.9 


253.2 


2,380 


19.4 


294.7 


115.8 


Oct. 


133.3 (4) 






149.9 


9.6 


281.0 


2,590 


14.2 


270.3 


118.3 



(2) As at end of month. (3) Average of months in case of Physical Volume of Business and Employment 



EMPLOYMENT INDEX: 1936-39 
PERCENTAGE INCREASE (+) OR DECREASE (-) FROM SAME MONTH OF PREVIOUS YEAR 

lSJ/o MONTH -FKin Flr.llRFS C\J/o 



10% 




OCT. -NOV. 1939 

VI— DIRECT RELIEF RECIPIENTS** 

FULLY EMPLOYABLE PERSONS IN RECEIPT OF URBAN AID : CLASSIFIED BY OCCUPATIONAL GROUPS 

Department of Labour 



164 



1938 



SEPTEMBER | DECEMBER 



1939 



| SEPTEMBER 



DOMINION'" 



Professional Services 

Finance and Insurance 

Trade 

Transportation & Communication 

Personal Services' 2 ' 

Other Services' 3 ' 

Clerical 

Manufacturing 



Construction 

Mining, Smelting and Quarrying 

Logging and Lumber Mills 

Fishing and Hunting 

Agriculture' 4 ' 

Labourers and Unskilled' 5 ' 

Not Before Gainfully Occupied (<l) 
Unspecified 



Total . 



1,026 

53 

9,501 

3,914 

16,359 

756 

3,183 

14,673 

10,686 

1,745 

2,024 

594 

4,193 

29,842 

16,054 

15 



114,618 



1,335 

53 

12,313 

5,577 

19,552 

967 

3,729 

20,284 

15,312 
2,213 

2,842 

1,223 

10,907 

44,717 

21,304 

3 



162,331 



1,529 
61 

14,779 
6,887 

21,306 
1,097 
4,235 

23,405 

18,869 

2,790 

4,451 

1,670 

13,520 

52,955 

24,648 

5 



192,207 



1 ,366 

48 

12,013 

4,702 

18,655 

897 

3,628 

18,324 

13,026 

2,782 

2,777 

1,195 

8,704 

40,832 

19,590 

6 



148,545 



93,1 
335 

8,260 
6,193 

17,088 

595 

3,306 

13,701 

11,099 

1 ,790 

1,455 

476 

2,979 

36,042 

17,465 

13 



121,728 



QUEBEC 



Professional Services 

Finance and Insurance 

Trade 

Transportation & Communication 

Personal Services' 2 ' 

Other Services' 3 ' 

Clerical 

Manufacturing 



Construction 

Mining, Smelting and Quarrying 

Logging and Lumber Mills 

Fishing and Hunting 

Agriculture' 4 ' 

Labourers and Unskilled"' 

Not Before Gainfully Occupied <6) 
Unspecified 



Total . 



214 

16 

2,522 

1,159 

4,010 

247 

993 

4,606 

3,815 
45 
107 

267 

151 

9,144 

5,159 

1 



32,456 



243 

15 

2,813 

1,472 

4,529 

275 
1,101 
5,289 

4,776 

51 

113 

420 

192 

11,823 

5,946 

1 



276 

16 

3,231 

1,735 

4,640 

297 
1,237 
5,846 

5,490 
54 
124 

481 

211 

13,148 

6,087 

1 



39,059 42,874 



268 

16 

2,874 

1,276 

4,040 

277 
1,109 
5,226 

4,367 

50 

115 

450 

174 

11,455 

5,311 



37,008 



267 
116 
3,046 
2,376 
4,477 
208 
1,214 
5,263 

5,013 
110 
393 

104 

290 

14,810 

7,690 

3 



45,380 



Professional Services 

Finance and Insurance 

Trade 

Transportation & Communication 

Personal Services' 2 ' 

Other Services' 3 ' 

Clerical 

Manufacturing 



construction 

[Mining, Smelting and Quarrying 

lLogging and Lumber Mills 

Fishing and Hunting 

Agriculture 14 ' 

labourers and Unskilled' 5 ' 

iVot Before Gainfully Occupied (6) 
Jnspecified 



Total 26,216 



287 

9 

2,204 

839 
3,372 

184 

686 
2,196 

1,963 

716 

89 

165 

2,459 

7,555 

3,492 



424 

12 

3,003 

1,300 

4,349 

220 

810 

3,138 

2,878 

563 

140 

194 

6,816 

11,737 

4,883 

1 



40,468 



494 

10 

3,655 

1,731 

4,793 

257 

915 

3,739 

3,463 

703 

291 

333 

7,885 

13,370 

5,653 

3 



47,295 



452 

6 

3,038 

1,242 

4,294 

211 

766 

2,949 

2,507 

1,015 

194 

315 

5,815 

11,612 

4,700 

2 



39,118 



202 

56 

1,647 

1,152 

3,144 

141 

635 

1,689 

1,692 
693 

64 

136 

1,184 

6,453 

2,542 



21,430 



1938 


1939 


SEPTEMBER| DECEMBER 


MARCH | JUNE | SEPTEMBER 





MARITIMES"' 


* 


6 


16 


19 


14 


4 

1 

36 


81 


127 


194 


108 


183 


286 


302 


166 


126 


236 


390 


484 


314 


166 


7 


10 


17 


12 


4 


20 


29 


41 


33 


20 


71 


328 


613 


208 


70 


113 


202 


343 


152 


86 


24 


192 


463 


534 


124 


- 


5 


16 


4 


- 


30 


103 


156 


43 


73 


13 


47 


131 


24 


7 


736 


1,473 


1,924 


1,240 


750 


245 


672 


1,058 


688 


335 


- 


- 


- 


1 


- 


1,765 


3,880 


5,761 


3,541 


1,802 





ONTARIO 




* 


324 


419 


484 


421 


291 


16 


17 


24 


21 


121 


3,709 


5,085 


6,179 


4,745 


2,846 


984 


1,615 


2,102 


1,271 


1,750 


7,831 


9,094 


10,076 


8,929 


8,425 


230 


348 


398 


298 


180 


1,135 


1,383 


1,622 


1,353 


1,142 


6,610 


9,765 


11,416 


8,533 


5,614 


3,615 


5,783 


7,622 


4,624 


3,243 


78 


206 


301 


153 


97 


549 


1,034 


2,003 


1,137 


354 


19 


89 


159 


76 


35 


786 


2,282 


3,417 


1,483 


864 


10,211 


16,562 


21,008 


13,884 


12,051 


5,660 


7,950 


9,762 


7,110 


5,560 


14 


- 


- 


2 


5 


41,771 


61,632 


76,573 


54,040 


42,578 





BRITISH COLUMBIA 


* 


195 


233 


256 


211 


167 


12 


9 


11 


5 


41 


985 


1,285 


1,520 


1,248 


685 


749 


904 


1,017 


747 


789 


910 


1,190 


1,313 


1,078 


876 


88 


114 


128 


99 


62 


349 


406 


420 


367 


295 


1,190 


1,764 


1,791 


1,408 


1,065 


1,180 


1,673 


1,951 


1,376 


1,065 


882 


1,201 


1,269 


1,030 


766 


1,279 


1,550 


2,017 


1,327 


644 


113 


417 


541 


311 


128 


784 


1,570 


1,876 


1,208 


634 


2,196 


3,122 


3,505 


2,641 


1 ,978 


1,498 


1,853 


2,088 


1,781 


1,338 


- 


1 


1 


1 


5 


12,410 


17,292 


19,704 


14,838 


10,538 



Persons in receipt <>f Material Aid (through Municipal or Provincial Governments) to which the Dominion Government contributed. 

Figures for Sept. 1939, which in some classifications are not exactly comparable with previous figures, are in all cases preliminary and subject to revision. 

1) New Brunswick is omitted as that Province was not distributing Urban Aid during the period shown in this table. (2) Including hotel, restaurant, hospital and cleaning. 
3) Recreational, Governmental, etc. (4) Resident farm operators and their dependents are excluded from this tabulation. (5) Excluding agriculture, mining and logging. 
16) Persons between the ages of 16 and 29 years. 



165 



OCT. -NOV. 1935 



VII— WHOLESALE PRICE INDEXES 



1926 = 100 



CANADA 

Dominion Bureau oj Statistics 





Farmt 
Products 


Raw 

Materials 


Foods 


Manu- 
factures 


Total 


Average of Mths. 












1926 


100.0 


100.0 


100.0 


100.0 


100.0 


1929 


100.8 


97.5 


100.0 


93.0 


95.6 


1932 


48.4 


55.0 


61.5 


69.8 


66.7 


1933 


51.0 


56.6 


63.8 


70.2 


67.1 


1934 


59.0 


63.5 


69.7 


73.4 


71.6 


1935 


63.5 


66.0 


70.4 


72.8 


72.1 


1936 


69.4 


70.8 


73.4 


73.6 


74.6 


1937 


87.0 


84.2 


81.2 


80.4 


84.5 


1938 


73.6 


72.7 


77.1 


78.2 


78.6 


Monthly 












1938-Oct. 


63.8 


65.1 


73.0 


74.8 


74.1 


Nov. 


64.9 


64.6 


72.0 


74.0 


73.5 


Dec. 


64.6 


64.9 


75.0 


73.6 


73.3 


1939-Jan. 


64.8 


64.8 


71.7 


73.5 


73.3 


Feb. 


64.7 


64.9 


71.9 


73.6 


73.2 


Mar. 


65.1 


65.1 


72.2 


73.2 


73.2 


Apr. 


65.5 


65.5 


72.3 


73.3 


73.4 


May 


65.2 


66.5 


72.2 


73.2 


73.7 


June 


63.3 


65.0 


71.9 


73.1 


73.3 


July 


62.7 


63.1 


71.5 


73.0 


72.6 


Aug. 


58.4 


62.8 


70.1 


72.8 


72.4 


Sept. 


64.2 


70.7 


77.0 


77.5 


78.2 


Oct. 


64.5 


71.2 


78.4 


78.8 


79.3 



U.K. 


Board of 


Trade"* 


Foods 


Total 


100.0 


100.0 


93.9 


92.1 


71.8 


69.1 


67.8 


69.2 


69.5 


71.1 


71.0 


71.8 


75.0 


76.2 


83.7 


87.8 


79.7 


81.9 


75.7 


80.0 


74.1 


79.4 


75.1 


79.3 


75.7 


78.4 


74.5 


78.1 


73.7 


78.0 


74.8 


78.4 


75.2 


78.9 


75.2 


79.2 


74.6 


79.2 


73.9 


79.2 


82.4 


84.9 


89.3 


89.3 



U.S.A. 

Bureau of Labour 



Farm 






Manu- 




Products 


Materials 


Foods 


factures 




100.0 


100.0 


100.0 


100.0 


100.0 


104.9 


97.5 


99.9 


94.5 


95.3 


48.2 


55.1 


61.0 


70.3 


64.8 


51.4 


56.5 


60.5 


70.5 


65.9 


65.3 


68.6 


70.5 


78.2 


74.9 


78.8 


77.1 


83.7 


82.2 


80.0 


80.9 


79.9 


82.1 


82.0 


80.8 


86.4 


84.8 


85.5 


87.2 


86.3 


68.5 


72.0 


73.6 


82.2 


78.6 


66.8 


70.9 


73.5 


81.1 


77.6 


67.8 


71.5 


74.1 


80.5 


77.5 


67.6 


70.9 


73.1 


80.2 


77.0 


67.2 


70.9 


71.5 


80.0 


76.9 


67.2 


70.9 


71.5 


80.2 


76.9 


65.8 


70.1 


70.2 


80.2 


76.7 


63.7 


68.5 


68.6 


80.1 


76.2 


63.7 


68.9 


68.2 


79.9 


76.2 


62.4 


67.7 


67.6 


79.6 


75.6 


62.6 


67.8 


67.5 


79.2 


75.4 


61.0 


66.5 


67.2 


79.1 


75.0 


68.7 


72.6 


75.1 


81.9 


79.1 


67.1 


72.3 


73.3 


82.3 


79.4 



t Wheat is included at the open market price or the Wheat Board's minimum buying price, whichever is the higher. (1) Adjusted to 1926= 100 from 
base 1913 = 100 in 1926-29 and from base 1930= 100 in 1930 and thereafter. (2) Bureau of Labour Index of Prices of Finished Products. 



INDUSTRIAL MATERIAL PRICE INDEXES : 1938-39 




1938 1939 

(1) Spruce lumber, fir lumber, pulp (unbleached sulphite), pulp (bleached sulphite), iron ore, scrap iron, structural shapes, 
steel sheets, crude oil, coal, and white lead. (2) Wheat, oats, sugar, steers and hogs. (3) Rubber, linseed oil, cottonseed 
hides, cotton, wool, silk, manilla hemp, lead, zinc, copper and tin ingots. 



OCT. -NOV. 1939 



VIII 



Millions of Dollars 



INTERNAL TRADE : RETAIL MERCHANDISE SALES 

Dominion Bureau of Statistics 









Type oi 


Business 






Distribution by Areas 




Food 

and 
Clothing 


General 

Mer- 
chandise 


Auto- 
motive 


Building 
Materials 


Furniture 

and 
Household 


All 
Other 


TOTAL 
SALES 


Maritime 


Quebec 


Ontario 


Prairie 


British 
Columbia 


Calendar Years 


























1926 


858 


653 


333 


192 


83 


449 


2,568 


175 


575 


998 


591 


229 


1927 


928 


699 


366 


207 


92 


491 


2,783 


185 


625 


1,081 


645 


247 


1928 


926 


743 


420 


220 


106 


561 


3,036 


200 


674 


1,186 


709 


267 


1929 


1,019 


754 


488 


207 


120 


570 


3,158 


215 


722 


1,250 


687 


284 


1930 


911 


681 


3S2 


102 


102 


518 


2,756 


198 


651 


1,100 


555 


252 


1931 


786 


586 


299 


129 


82 


438 


2,321 


173 


562 


952 


422 


212 


1932 


664 


489 


242 


96 


59 


371 


1,922 


141 


465 


790 


360 


166 


1933 


620 


465 


228 


83 


51 


339 


1,786 


130 


422 


742 


334 


158 


1934 


656 


499 


285 


95 


59 


364 


1,959 


145 


449 


824 


366 


175 


1935 


677 


512 


324 


101 


65 


375 


2,054 


153 


464 


858 


388 


191 


1936 


709 


544 


363 


112 


72 


403 


2,208 


107 


498 


913 


419 


211 


1937 


759 


583 u ' 


459 


124 


83 


446 


2,454 


188 


566 


1,022 


443 


235 


1938 


746 


570 


442 


124 


78 


443 


2,405 


179 


561 


989 


451 


225 



(1) Including Yukon and Northwest Territories. (2) Revised. 



166 



TOTAL RETAIL MERCHANDISE SALES 



ANNUAL INDEX: 1926=100 



MONTHLY INDEX: 1930 = 100 



140 



120 



100 



80 



t^\ 




A 


A 


VOLUK 
\ 


/ v 

/ 
/ 




\ V 

\\ \^-- VALU 

*\ \ DOMINION 
Vi \ or STATI 


e'° / 

TICS / 


price' — 

DOMINION BUREAL 
Or STATISTICS 


M 


1 1 1 





1926 '27 



'28 '29 '30 



'33 '34 '35 '36 '37 
(1) As given in table above. 




(2) D.B.S. Index of foods, fuel, clothing, household requirements and 



167 



OCT. -NOV. 1939 



IX— EXTERNAL TRADE : VOLUME OF IMPORTS 

Compiled from Trade of Canada, Dominion Bureau of Statistics 





Sugar 

and 

Syrups 


Tea 


Coffee 


Raw 
Cotton 


Raw 
Wool 


Petroleum 
Oils 


Crude 
Rubber 


Coal 


Tin 
Plate 


Structural 
Iron 
and 
Steel 


Index: 

Volume 

of 

Total 




Pounds 


Pounds 


Pounds 


Pounds 


Pounds 


Gallons 


Pounds 


Short tons 


Short tons 


Short ton? 


Imports 




Millions 


Millions 


Millions 


Millions 


Millions 


Millions 


Millions 


Millions 


Thousands 


Thousands 




Calendar Year Totals 
























1926 


1,260 


38 


25 


135 


15 


766 


45 


17 


75 


203 


100 


1929 


1,055 


39 


29 


136 


12 


1,359 


80 


18 


82 


381 


137 


1932 


990 


40 


31 


97 


9 


1,115 


47 


12 


40 


31 


64 


1933 


959 


39 


34 


120 


14 


1,119 


43 


11 


81 


19 


55 


1934 


992 


39 


35 


143 


15 


1,206 


64 


13 


85 


32 


67 


1935 


1,081 


35 


35 


121 


15 


1,293 


60 


12 


81 


43 


70 


1936 


1,233 


40 


41 


150 


23 


1,378 


62 


13 


94 


53 


79 


1937 


1,098 


40 


38 


158 


24 


1,503 


81 


15 


117 


76 


89 


1938 


1,141 


38 


43 


135 


16 


1,421 


58 


13 


78 


43 


81 


12-Months Ending 
























Sept.— 1939 


1,130 


44 


■ 48 


125 


18 


1,414 


68 


15 


69 


49 


83 


Monthly Totals 
























1938— Apr. 


43.5 


2.2 


2.8 


6.8 


1.5 


58.8 


2.2 


.7 


7.2 


3.1 


70 


May 


169.1 


3.1 


5.5 


11.9 


1.6 


160.1 


5.7 


1.2 


12.3 


4.3 


97 


June 


121.6 


4.7 


3.6 


9.5 


.7 


164.0 


7.3 


.9 


5.6 


5.3 


85 


July 


114.9 


2.3 


3.4 


7.6 


1.5 


168.2 


6.0 


1.1 


7.7 


4.4 


SO 


Aug. 


140.1 


2.6 


2.9 


8.3 


.6 


150.4 


4.1 


1.1 


12.0 


3.8 


82 


Sept. 


114.3 


3.1 


2.6 


6.1 


.9 


196.8 


3.1 


1.2 


5.0 


3.7 


82 


1939— Apr. 


55.4 


7.9 


2.5 


4.5 


.9 


52.6 


3.5 


.7 


3.3 


2.6 


62 


May 


198.1 


2.6 


6.8 


13.1 


2.4 


150.0 


6.9 


1.3 


6.9 


3.8 


108 


June 


128.6 


1.8 


5.4 


15.3 


2.6 


173.3 


5.5 


.9 


11.0 


6.0 


94 


July 


93.0 


1.4 


2.8 


9.4 


1.6 


159.2 


7.2 


1.1 


9.4 


6.9 


86 


Aug. 


128.9 


2.2 


3.3 


5.6 


.6 


182.3 


4.9 


1.0 


12.0 


6.1 


93 


Sept. 


96.4 


6.6 


5.3 


7.2 


1.2 


155.0 


5.9 


2.9 


6.4 


8.7 


99 






(1) Index of Total Import Values divided by D.B.S. Import Price Index. 



IMPORTS AND PRODUCTION OF PETROLEUM AND GASOLINE : 1936-39 

MILLIONS Or GALLONS MILLIONS OF GALLONS 



1800 



1600 



1400 



RUNNING 12-MONTH TOTALS 




1800 



1600 



1200 



1000 



1400 



1200 



1000 



>CT.-NOV. 1939 



168 



IX— EXTERNAL TRADE : VOLUME OF EXPORTS 

Compiled from Trade of Canada, Dominion Bureau of Statistics 





Wheat 
and 
Flour 


Fish 


Bacon 
and 
Hams 


Cheese 


Newsprint 
and 
Wood 
Pulp 


Lumber 


Nickel 


Copper 


Auto- 
mobiles 

and 
Trucks 


Non- 
Monetary 
Gold* 


Index: (1) 

Volume 

of 

Can. 




Bushels 


Pounds 


Pounds 


Pounds 


Short tons 


Board Feet 


Short tons 


Short tons 






Exports 




Millions 


Millions 


Millions 


Millions 


Thousands 


Millions 


Thous'ds 


Thous'ds 


Thousands 


Thousands 




Calendar Year Totals 
























1926 


297 


435 


93 


135 


2,738 


2,132 


32 


59 


74 


1,469 


100 


1929 


254 


417 


29 


93 


3,346 


1,755 


55 


124 


102 


1,798 


99 


1932 


251 


258 


36 


87 


2,229 


674 


16 


133 


13 


2,981 


71 


1933 


217 


303 


73 


74 


2,447 


1,018 


44 


124 


20 


2,859 


74 


1934 


191 


288 


120 


61 


3,020 


1,368 


59 


156 


43 


3,238 


83 


1935 


188 


323 


125 


56 


3,237 


1,337 


71 


199 


64 


3,396 


89 


1936 


265 


321 


158 


82 


3,748 


1,750 


87 


206 


56 


3,757 


108 


1937 


114 


324 


196 


89 


4,326 


1,858 


111 


219 


66 


4,158 


98 


1938 


132 


286 


171 


81 


2,979 


1,667 


99 


280 


58 


4,591 


95 


12 Months Ending 
























Sept.— 1939 


175 


313 


163 


83 


3,189 


2,038 


113 


287 


58 


5,096 


112 


Monthly Totals 
























1938— Apr. 


2.4 


9.9 


13.7 


1.6 


219.3 


91.0 


5.9 


19.6 


4.1 


267 


64 


May 


4.7 


13.5 


18.0 


3.7 


257.4 


125.0 


8.5 


29.6 


5.3 


406 


88 


June 


8.6 


18.6 


12.5 


5.5 


230.2 


166.2 


4.7 


21.2 


5.8 


326 


86 


July 


8.5 


19.6 


12.5 


11.7 


238.2 


165.9 


7.3 


23.7 


4.8 


325 


90 


Aug. 


7.6 


21.7 


10.9 


10.6 


278.0 


147.2 


7.5 


23.2 


3.9 


475 


105 


Sept. 


14.1 


26.4 


10.5 


14.0 


251.4 


139.4 


9.5 


24.9 


3.5 


435 


112 


1939— Apr. 


4.1 


11.6 


10.6 


.4 


204.5 


122.9 


9.4 


20.1 


2.3 


303 


79 


May 


16.0 


15.9 


16.7 


5.4 


299.7 


165.5 


11.4 


32.6 


5.5 


454 


122 


June 


16.4 


21.4 


12.1 


6.4 


287.1 


205.9 


8.0 


22.4 


6.0 


495 


121 


July 


15.6 


22.6 


11.6 


12.8 


251.9 


185.1 


8.7 


23.7 


4.8 


436 


120 


Aug. 


12.0 


29.9 


15.4 


12.8 


308.6 


248.5 


7.4 


23.1 


6.2 


258 


108 


Sept. 


17.5 


32.2 


11.4 


9.7 


277.5 


216.5 


12.7 


23.6 


1.9 


452 


115 



* Net exports adj usted for changes in "earmarked" gold, revised figures on the basis of the table given on pages 42-43 of the March 1939 Statistical Summary. 
(1) Index of Canadian Export Values divided by D.B.S. Export Price Index adjusted to include non-monetary gold. 



MERCHANDISE EXPORTS: INDEXES OF VALUE, PRICE AND VOLUME: 1926-39 

1926-100 1926 = 100 

wor 




* Including non-monetary gold. (1) Averages in the case of "Price". (2) Running 12-month totals 1937-39. 
adjusted to include non-monetary gold, t Index (4) divided by Index (3). 



1938 1939 1940 

(3) D.B.S. Export Price Index 



OCT. -NOV. 1939 

X— SALES ABROAD OF NEW ISSUES OF CANADIAN SECURITIES : 1927-37 
RETIREMENTS OF CANADIAN SECURITIES HELD ABROAD: 1927-37 



Par Value 


in Millions of Dollars 


Dominion Bureau of Statistics* 


















1 


. Sales Abroad of New Issues of Canadian Securities 






Calendar 
Years 


Dominion 
(incl. C.N.R. Gtd. 
by Dom. & Prov.) 


Provincial 


Municipal 


Corporations 
(excl. Gtd. C.N.R.) 


TOTAL 


Grand 


























Total 




U.K. 


U.S.A. 


U.K. 


U.S.A. 


U.K. 


U.S.A. 


U.K. 


U.S.A. 


U.K. 


U.S.A. 


Other 




1927 


33.8 


35.0 


_ 


81.2 


.4 


28.0 


11.8 


127.6 


46.0 


271.8 


.8 


318.6 


1928 


- 


18.9 


9.7 


43.6 


4.1 


4.5 


7.1 


135.0 


20.9 


202.0 


.5 


223.4 


1929 


- 


83.5 


7.4 


73.6 


8.8 


12.0 


14.3 


112.3 


30.5 


281.4 


.9 


312.8 


1930 


- 


141.9 


- 


97.6 


- 


45.5 


19.9 


113.8 


19.9 


398.8 


.6 


419.3 


1931 


- 


93.5 


- 


73.3 


- 


26.9 


1.2 


9.8 


1.2 


203.5 


.2 


204.9 


1932 


- 


60.0 


16.1 


27.5 


.1 


- 


.4 


.3 


16.6 


87.8 


.3 


104.7 


1933 


73.0 


60.6 


- 


- 


- 


- 


1.4 


.5 


74.4 


61.1 


.4 


135.9 


1934 


48.7 


52.7 


- 


■ - 


6.2 


- 


5.7 


.9 


60.6 


53.6 


.6 


114.8 


1935 


- 


116.0 


- 


- 


- 


4.2 


.5 


.3 


.5 


120.5 


- 


121.0 


1936 


- 


79.0 


- 


- 


- 


- 


1.1 


30.0 


1.1 


109.0 


- 


110.1 


1937 


- 


85.0 


- 


3.3 


_ 


- 


4.0 


.8 


4.0 


89.1 


- 


93.1 



Par Value 


in Millions of Dollars 
























2. 


Retirements of Canadian Securities Held Abroad 








Calendar 
Years 


Dominion 
(incl. C.N.R. Gtd. 
by Dom. & Prov.) 


Provincial 


Municipal 


Corporations 
(excl. Gtd. C.N.R.) 


TOTAL 


Grand 


























Total 




U.K. 


U.S.A. 


U.K. 


U.S.A. 


U.K. 


U.S.A. 


U.K. 


U.S.A. 


U.K. 


U.S.A. 


Other 




1927 


3.4 


20.4 


1.9 


37.9 


1.8 


5.0 


49.6 


15.8 


56.7 


79.1 


.5 


136.3 


1928 


4.5 


5.8 


6.0 


35.8 


3.5 


4.7 


45.4 


77.3 


59.4 


123.6 


.7 


183.7 


1929 


6.3 


54.9 


11.4 


21.2 


8.7 


5.5 


9.4 


17.2 


35.8 


98.8 


2.0 


136.6 


1930 


24.1 


11.5 


1.7 


26.1 


3.6 


12.6 


4.9 


10.6 


34.3 


60.8 


1.7 


96.8 


1931 


4.9 


86.1 


1.7 


57.2 


5.8 


9.9 


9.5 


24.3 


21.9 


177.5 


2.0 


201.4 


1932 


4.8 


2.4 


1.5 


38.5 


17.1 


8.7 


4.8 


24.1 


28.2 


73.7 


.8 


102.7 


1933 


2.5 


68.8 


7.0 


29.7 


8.8 


7.2 


17.0 


23.8 


35.3 


129.5 


1.1 


165.9 


1934 


35.4 


77.6 


2.3 


12.7 


1.9 


6.7 


8.8 


22.1 


48.4 


119.1 


.5 


168.0 


1935 


4.7 


164.3 


4.0 


20.3 


8.1 


11.1 


7.2 


38.2 


24.0 


233.9 


- 


257.9 


1936 


5.7 


110.0 


.8 


14.3 


2.5 


16.9 


13.7 


89.3 


22.7 


230.5 


1.0 


254.2 


1937 


3.3 


64.9 


7.5 


13.6 


1.6 


21.7 


14.3 


49.2 


26.7 


149.4 


.3 


176.4 



Par Value 


in Millions of Dollar 


s 






















3. Net of 1 and 2 


Calendar 
Years 


Dominion 
(incl. C.N.R. Gtd. 
by Dom. & Prov.) 


Provincial 


Municipal 


Corporations 
(excl. Gtd. C.N.R.) 


TOTAL 


Grand 


























Total 




U.K. 


U.S.A. 


U.K. 


U.S.A. 


U.K. 


U.S.A. 


U.K. 


U.S.A. 


U.K. 


U.S.A. 


Other 




1927 


30.4 


14.6 


1.9 


43.3 


1.4 


23.0 


37.8 


111.8 


10.7 


192.7 


.3 


182.3 


1928 


4.5 


13.1 


3.7 


7.8 


.6 


■> 


38.3 


57.7 


38.5 


78.4 


.2 


39.7 


1929 


6.3 


28.6 


4.0 


52.4 


.1 


6.5 


4.9 


95.1 


5.3 


182.6 


1.1 


176.2 


1930 


24.1 


130.4 


1.7 


71.5 


3.6 


32.9 


15.0 


103.2 


14.4 


338.0 


1.1 


322.5 


1931 


4.9 


7.4 


1.7 


16.1 


5.8 


17.0 


S.3 


14.5 


20.7 


26.0 


1.8 


3.5 


1932 


4.8 


57.6 


14.6 


11.0 


17.0 


8.7 


4.4 


23.8 


11.6 


14.1 


.5 


2.0 


1933 


70.5 


8.2 


7.0 


29.7 


8.8 


7.2 


15.6 


23.3 


39.1 


68.4 


.7 


30.0 


1934 


13.3 


24.9 


2.3 


12.7 


4.3 


6.7 


3.1 


21.2 


12.2 


65.5 


.1 


53.2 


1935 


4.7 


48.3 


4.0 


20.3 


8.1 


6.9 


6.7 


37.9 


23.5 


113.4 


- 


136.9 


1936 


5.7 


31.0 


.8 


1 L.3 


2.5 


16.9 


12.6 


59.3 


21.6 


121.5 


1.0 


144.1 


1937 


3.3 


20.1 


7.5 


10.3 


1.6 


21.7 


10.3 


48.4 


22.7 


60.3 


.3 


83.3 



Compiled from: "The Canadian Balance of International Payments, A Study of Methods and Results" (1939). 



CT. -NOV. 1939 



170 



XI 



Thousands of Short Tons 



NEWSPRINT : NORTH AMERICA 

Newsprint Association of Canada 





SUPPLY 


EST. 


CONSUMPTION 


STOCKS 




Production 


Imports 

from 
Europe 












Net 












Exports 


Total 


U.S. 


Canadian 




Increase 




Canada 


New- 
foundland 


U.S.A. 


Total 


Overseas 


Supply 


Publishers 


Publishers 




or 
Decrease 


Calendar Years 
























1935 


2,751 


332 


912 


3,995 


197 


734 


3,458 


3,345 


200 


3,545 


87 


1936 


3,209 


326 


921 


4,457 


242 


851 


3,848 


3,692 


195 


3,887 


39 


1937 


3,648 


350 


946 


4,944 


294 


771 


4,467 


3,825 


220 


4,045 


All 


1938 


2,625 


268 


820 


3,713 


243 


681 


3,275 


3,422 


160 


3,582 


307 


12 Months Ending 
























Oct. 1939 


2,795 


308 


937 


4,040 


317 


665 


3,691 


3,510 


189 


3,699 


8 


Monthly Totals 
























1938-Aug. 


220.3 


13.0 


67.4 


300.7 


18.4 


44.7 


274.4 


250.9 


12.9 


263.8 


10.6 


Sept. 


231.9 


22.3 


68.3 


322.5 


19.0 


66.7 


274.8 


282.7 


13.0 


295.7 


20.9 


Oct. 


254.9 


23.9 


72.8 


351.6 


20.1 


63.1 


308.6 


318.9 


14.2 


333.1 


24.5 


Nov. 


245.3 


29.6 


78.4 


353.3 


26.6 


75.0 


304.9 


301.7 


16.0 


317.7 


12.8 


Dec. 


209.8 


26.8 


75.9 


312.5 


22.8 


54.0 


281.3 


300.1 


15.3 


315.4 


34.1 


1939-Jan. 


208.4 


22.5 


77.3 


308.2 


22.9 


35.1 


296.0 


276.0 


14.9 


290.9 


5.1 


Feb. 


200.6 


22.1 


70.9 


293.6 


20.1 


30.6 


283.1 


260.1 


13.6 


273.7 


9.4 


Mar. 


220.6 


24.8 


79.9 


325.3 


35.0 


43.9 


316.4 


301.0 


16.1 


317.1 


.7 


Apr. 


220.8 


23.4 


77.4 


321.6 


25.3 


30.6 


316.3 


309.2 


16.4 


325.6 


9.3 


May 


250.0 


22.3 


85.9 


358.2 


31.5 


76.0 


313.7 


301.0 


15.5 


316.5 


2.8 


June 


240.5 


22.9 


80.6 


344.0 


24.6 


56.6 


312.0 


291.2 


16.2 


307.4 


4.6 


July 


227.6 


25.8 


74.9 


328.3 


28.4 


62.2 


294.5 


257.7 


15.4 


273.1 


21.4 


Aug. 


237.0 


30.6 


80.0 


347.6 


31.2 


80.7 


298.1 


267.7 


14.4 


282.1 


16.0 


Sept. 


253.2 


27.4 


77.3 


357.9 


28.4 


61.9 


324.4 


310.0 


16.5 


325.9 


1.5 


Oct. 


281.0 


29.5 


78.6 


389.0 


19.9 


58.8 


350.1 


334.4 


18.7 


353.1 


3.0 



Shipments from Canadian Mills to Canadian Publishers plus shipments from Newfoundland to Canada 



NEWSPRINT : NORTH AMERICA: 1936-39 

THOUSANDS OF SHORT TONS THOUSANDS OF SHORT TONS 



4400 



4000 



3200 




3600—^ 



DJFMAMJJASONDJFMAMJJASONDJFMAMJJASONDJFMAMJJASONDJFMAMJJ 
1936 1937 1938 1939 1940 

(1) Total supply: see above table. (2) See above table. (3) Cumulative difference of (a) Retained Production plus Imports 
and (b) Estimated Consumption by Publishers. For monthly figures see above table. 



^ 



DUPT. JAN 151957 



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